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14 March, 2018 00:00 00 AM
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Dollar dips on US inflation

AFP

The US dollar dipped yesterday against European currencies after US inflation data pointed to a moderate pace of coming interest rate rises, with fresh White House turmoil adding pressure on the greenback, dealers said, reports AFP from London.

Wall Street came off to a stronger opening after the US consumer price index (CPI) rose 0.2 percent in February, just as analysts had predicted, cooling from January's sudden jump of 0.5 percent which had sent markets around the world into a tailspin.

The inflation report "exactly matched expectations, and partially reverses some of the inflation concerns caused by last month's employment and CPI report," said Marvin Loh, a markets strategist at BNY Mellon Markets.

The dollar was also impacted by US President Donald Trump's announcement that he was replacing his top diplomat Rex Tillerson ahead of announced talks with North Korea.

"The US dollar weakens further in the aftermath of the Tillerson announcement," analyst Michael Hewson at CMC Markets tweeted.

 

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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