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The greenback edged up on PPI figures

16 Feb,2024
The greenback edged up on PPI figures

The US dollar ticked up on Friday, on course for hitting weekly gains for the fifth consecutive time, as investors evaluated the recent economic figures and solid projections of Fed trimming interest rate in June, meanwhile the yen steadied hovering around 150 per dollar.

The dollar index that gauges the greenback versus its major pairs edged up by 0.13% at 104.40 on Friday, the index is heading to touch weekly gains for the fifth consecutive time.

The greenback dipped on Thursday following the release of retail sales figures for January that dipped beyond projections, although a different report emphasized how tight the labor market is.

EUR/USD slipped 0.11% to $1.0761, on course for inching down in the week and almost close to three months low of $1.0695, previously hit this week.

GBP/USD dropped 0.15% to $1.2582 heading to weekly drop before the release of UK retail sales for January, that is projected to slump by 1.4% YOY.

The yen plunged 0.22% to 150.26 per dollar, moving close to 150-mark level, that alerts the market to the possibility of Japanese involvement to devalue its currency.

 

 

 

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