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U.S. dollar rises ahead of CPI data

NEW YORK
2023-09-13 05:28

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NEW YORK, Sept. 12 (Xinhua) -- The U.S. dollar gained in late trading on Tuesday, as investors waited for Wednesday's U.S. consumer price index (CPI) report.

The dollar index, which measures the greenback against six major peers, rose 0.14 percent to 104.7119 in late trading.

The U.S. small business optimism index released by the National Federation of Independent Business (NFIB) on Tuesday decreased to 91.3 in August, the 20th consecutive month below the 49-year average of 98.

About 23 percent of small business owners reported that inflation was their single most important business problem, up two points from last month. The net percent of owners raising average selling prices increased two points to a net 27 percent, still at an inflationary level.

In the eurozone, the Office for National Statistics of Britain released the labor market report on Tuesday. Unemployment rate rose to 4.3 percent in the three months to July from 4.2 percent a month earlier, its highest since the three months to the end of September 2021, but average weekly earnings growth in the three months to July rose to 8.5 percent in annual terms, up from 8.4 percent a month earlier and marking a new high, excluding distortions during the COVID-19 pandemic, in records dating back more than 20 years.

Investors believe that the British pay growth will put the Bank of England on track to raise interest rates once again.

In late New York trading, the euro fell to 1.0732 U.S. dollars from 1.0745 dollars in the previous session, and the British pound fell to 1.2485 U.S. dollars from 1.2509 dollars.

The U.S. dollar bought 147.1020 Japanese yen, higher than 146.4880 Japanese yen of the previous session. The U.S. dollar was up to 0.8912 Swiss francs from 0.8909 Swiss francs, and it was down to 1.3556 Canadian dollars from 1.3581 Canadian dollars. The U.S. dollar was up to 11.1007 Swedish krona from 11.0756 Swedish krona.
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