US Dollar Set for Modest Weekly Gain
The US dollar was almost flat on Friday after dipping following fresh inflation data.
The Consumer Price Index rose 0.3 per cent last month and 3.0 per cent in the 12 months through September, less than expected.
The U.S. consumer prices increased less than expected in September, keeping the Federal Reserve on track to cut interest rates again next week.
- The Consumer Price Index rose 0.3 per cent last month.
- 3.0 per cent in the 12 months through September.
- Economists forecast the CPI increasing by 0.4 per cent for the month and rising 3.1 per cent year-on-year.
The dollar index was last down 0.021 per cent at 98.934, still on track for a modest weekly gain.
Author's summary: Dollar set for modest gain after soft inflation data.
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