US Dollar Set for Modest Weekly Gain
The US dollar was almost flat on Friday after dipping following fresh inflation data that showed US consumer prices increased less than expected in September.
The Consumer Price Index rose 0.3 per cent last month and 3.0 per cent in the 12 months through September, which is less than the forecasted increase of 0.4 per cent for the month and 3.1 per cent year-on-year by economists polled by Reuters.
The dollar index was last down 0.021 per cent at 98.934, after earlier falling as much as 0.2 per cent, still on track for a modest weekly gain.
The US consumer prices increased less than expected in September, keeping the Federal Reserve on track to cut interest rates again next week.
The modest weekly gain is expected despite the soft inflation data.
Author's summary: Dollar set for modest weekly gain.
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