The value of the dollar remains stable, hovering around the average price range it has maintained throughout the week in relation to various significant currencies. Investors are currently waiting for the release of the US inflation data on Thursday, which may impact the Federal Reserve’s monetary policy.
In early Asian trading, the dollar index, which measures the US currency against six major currencies such as the euro and yen, remained relatively stable at 102.50. Throughout this week, it fluctuated between 101.98 and 102.80.
The dollar saw an increase in demand as a safe haven due to the recent string of weak economic data from China. Additionally, there are growing expectations that the US economy may experience a slight decline as price pressures ease.
According to Wall Street economists, the consumer price index is projected to increase by 4.8 percent on a year-on-year basis in July.
According to recent data, consumer prices in China decreased in the previous month. This came after a report the day before revealed a more significant drop than anticipated in both imports and exports.