The dollar weakened against various currencies yesterday following the latest US inflation rate, edged up just 0.1% last month, missing expectations. This has created uncertainty about when the Federal Reserve will start to taper its monetary policy measures and suggests that its tapering announcement could be delayed.
The Federal Reserve’s next monetary policy meeting is due to take place next week. The markets will be listening for any indication of when tapering will take place and if interest rates could be hiked in the near future.
US retail sales figures and jobless claims will be released later today.
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