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The dollar maintained its previous week gains, eyes are squarely focused on US inflation figures

08 Jan,2024
The  dollar maintained its previous week gains, eyes are squarely focused on US inflation figures

The greenback maintained most of its previous-week gains on Monday after registering its biggest weekly surge versus its major pairs not touched since last July, pausing the dips experienced by the end of 2023.

The dollar index that gauges the greenback versus its major pairs traded at 102.45. The index advanced by 1% the previous week, recovering from its losses in the latter part of 2023.

Following figures on Friday that indicated U.S. firms recruited more people than anticipated in December while rising salaries at a steady pace, suggesting a still healthy labor market, those opinions may once again change in response to Thursday's projected estimate on U.S. inflation.

EUR/USD was barely moved, closing at $1.0945, hurt by the earlier week's 0.9% decline that abruptly ended its recent surge.

GBP/USD inched down to $1.2711.

The yen muted at 144.6 per dollar, having steeply declined by 140.8 per dollar at the beginning of 2024.

 

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