The dollar started trading today lower against the yen, hurt by pressure from lower US Treasury yields after inflation slowed, giving dealers more confidence in the fact that the US Federal Reserve has finished raising interest rates.
But it reversed course and pared its losses against the Australian dollar and the euro following Chinese data revealing that consumer price inflation had almost stabilized last month, after an unexpected drop of imports during the week had already signaled warnings.
The yuan fell in local trading to 6.9413 against the dollar, a level not seen since March 10.
The pound fell slightly to $1.2616, falling from its highest level in a year when it hit $1.2679 on Wednesday.
Markets are awaiting the Bank of England’s announcement of its monetary policy decision later today, with hopes it will raise interest rates for the 12th consecutive time.
currency movements
The dollar fell 0.15% to 134.185 yen, after falling 0.37% to 133.895 earlier in the session.
As for the dollar index, which measures the performance of the US currency against a basket of six major currencies, it edged up 0.05% to 101.46.
The Euro fell $0.04 to $1.09775, remaining near the middle of its trading range over the past month.
The Australian dollar also fell 0.04% to $0.6776, far from the highest level in two and a half months, which it hit on Wednesday at $0.6818.
The New Zealand dollar rose 0.12% to $0.6375, after hitting a nearly three-month high of $0.6384 earlier in the session.
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