Dollar rises, investors raise doubts on Fed’s taper timeline
The dollar rose on Wednesday morning in Asia. Investors made small moves following doubts on the start of the United States’ Federal Reserve’s asset tapering this year.
The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase of 0.04% to 92.648 by 10:55 PM ET (2:55 AM GMT).
The USD/JPY pair declined 0.03% to 109.64.
The AUD/USD pair fell 0.02% to 0.7317, and the NZD/USD pair slid 0.11% to 0.7088.
The USD/CNY pair jumped 0.08% to 6.4433, while the GBP/USD pair shed 0.07% to 1.3797.
The greenback has been ranging from 92.3 to 92.9 this week as some Fed officials encourage the start of asset tapering.
Investors remain in anticipation of the Fed’s timetable on the matter. The central bank is set to release its latest policy decision next week.
Meanwhile, the core consumer price index (CPI) based on the latest U.S. data climbed 4% year-on-year and 0.1% month-on-month in August.