The dollar is ticking up on a relatively quiet day for US economic data.
The US dollar index was up by 0.4% at 93.60 at 9:09 a.m. ET.
The dollar slid last week after inflation data came in below expectations and the September FOMC minutes showed that many Fed officials are concerned that inflation will remain lower for longer.
The index is up by about 9% since US President Donald Trump’s inauguration.
As for the rest of the world, here was the scoreboard at 9:15 a.m. ET:
- The Mexican peso was up by 0.3% at 18.9791 per dollar, reversing some of its losses. The currency was getting slammed earlier this week as the US came out swinging in the fourth round of NAFTA re-negotiations. “There are two ways to read the US demands,” Marc Chandler, global head of currency strategy at Brown Brothers Harriman, said in commentary. “The first is from the perspective of “The Art of the Deal” where strong demands are made to forces a favourable compromise. The second is that making unreasonably onerous demands may force a collapse of the agreement that the US President has called among the worst in history.”
- The euro was down by 0.4% at 1.1753 against the dollar. Earlier, the German ZEW economic sentiment came in at 17.6 for October, below expectations of 20.0. Meanwhile, Spain cut its economic forecast for 2018, citing the impact of the political situation in Catalonia.
- The British pound was down by 0.5% at 1.3184 against the dollar. Earlier, data showed that the UK’s CPI rose 3.0% year-over-year in September, in line with expectations, and above the prior month’s reading of 2.9%.
- The Russian ruble was little changed at 57.3996 per dollar, while Brent crude oil, the international benchmark, was up by 0.3% at $US57.99 per barrel.
- The Indian rupee was down by 0.5% at 65.027 per dollar.
- The Japanese yen was down by 0.2% at 112.37 per dollar.
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