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The greenback muted before the release of key inflation figures

26 Jan,2024
The greenback muted before the release of key inflation figures

The greenback muted on Friday, following gains based triggered by positive U.S. economic figures, on the other hand euro plunged amid the recent ECB’s meeting.

The dollar index that gauges the greenback versus the majors steadied at 103.372, heading for a slight weekly gain post edging up 0.2% during last night.

EUR/USD dipped 0.2% at 1.0827, with euro retreating post ECB’s meeting.

Interest rates remained at the record-high 4% set by the ECB

GBP/USD plunged 0.1% at 1.2693, with BOE scheduled to declare the interest rate trajectory the upcoming week.

USD/JPY ticked up by 0.1% to 147.82, with the yen inched lower as figures demonstrated that CPI inflation in Tokyo dropped beyond projection in January, predicting a similar pattern of inflation across the nation.

Eyes are on Fed’s favorite inflation measure, which could offer more hints on the bank’s plans to reduce interest rates.

 

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