Dollar index lingers under 107 mark; Set for near 1% weekly dip

The US dollar index slipped to a two and half week low on Friday morning in Asia and is set for a weekly decline of nearly 1%. The dollar index failed to capitalize on stronger than expected inflation data reading in the last couple of days. Yesterday, the Producer price index for January increased 0.4%, exceeding the expected 0.3%. Core PPI matched expectations at 0.3%, but Decembers figure was revised higher to 0.4%, signaling persistent price pressure. Also, greenback faces pressure following President Donald Trump's decision to delay the implementation of reciprocal tariffs. Benchmark US 10-year treasury yields also pulled back below 4.6% weighing on the index. Currently, the dollar index that measures the greenback against a basket of currencies is quoting at 106.83, down 0.36% on the day.

 

Powered by Capital Market - Live News