Dollar hovers near year-low levels as traders eye inflation

12.05.2021 - Kulakov Vladimir
Dollar hovers near year-low levels as traders eye inflation

The dollar lingered near its weakest levels of the year on Wednesday as investors clung onto bets that the U.S. Federal Reserve would maintain dovish policy settings ahead of inflation data.

The dollar hit its lowest against the euro in two months, following an upbeat European growth survey. It stood just above the $1.2140-level in Asia. 

The Japanese yen slightly fell to 108.79 against the dollar. Sentiment supported the dollar index to rise to 90.278. 

The Aussie and the kiwi slid nearly 0.2% in early trade to sit below recent ten-week highs. The loonie firmed just below a nearly four-year high.

The pound held onto recent gains to stand at $1.4118. Nominal U.S. yields rose with the focus on inflation, but real yields stayed negative and under pressure.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?