The US dollar skidded to new one-month trough on Friday, as inflation data aggravated the uncertainty over the timing of Federal Reserve’s interest rate hikes.
A measure of core inflation went up almost 0.1% in May, the smallest increase in five months.
The greenback stood at $1.1373 per euro. Against the Japanese yen, the dollar closed at ¥123.080.
It seems the US markets were contented with the view this week’s FOMC meeting “reduced the chances of more than one rate hike before year end,” said Ray Attrill, Global Co-head of FX Strategy at National Australia Bank.
The material has been provided by InstaForex Company – www.instaforex.com