The American dollar closed the week with a strong tone against most of its major rivals, underpinned by better-than-expected US inflation figures released on Friday.
August CPI rose by 0.2% after being unchanged in the previous month, while the core monthly figure rose by 0.3%, compared to July. This week, the FOMC and the BOJ will have their economic policy meetings, and while investors expect the US Federal Reserve to leave rates unchanged, the pickup in inflation supported the case for a hike later this year.
US Consumer confidence, according to the University of Michigan’s preliminary index, also released in the last trading day of the week, resulted unchanged at 89.8, slightly below market’s expectations.
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Sales Manager | One Financial Markets SA