The dollar falls against the euro before US inflation data

The dollar fell Friday, June 10, as traders awaited the US inflation data that should provide indications of the path of monetary tightening at the Federal Reserve, and after the European Central announced the start of raising interest rates next month.

The euro rose after its decline Thursday, June 9, but remained below its trading level before the European Central Bank meeting, and the European Central announced that it would end the quantitative easing program on July 1 and then raise interest rates by 25 basis points on July 21, and threatened to raise interest further. In September.

The dollar index, which measures the performance of the US currency against a basket of major currencies, fell 0.1% to 103.17 but remained high during the week after growth concerns encouraged investors to seek a safe haven in the dollar.

The euro rose 0.2% to $1.0631, after touching $1.0611 early in the session, its lowest since May 23.

The euro fell 0.92% against the dollar yesterday after a volatile session on the ECB’s statement.

The dollar lost some of its recent gains against the Japanese yen and fell 0.3% to 133.94 yen, but remained within a range of its highest level in 20 years on Thursday at 134.55 yen.

The Norwegian krone made gains and was last up 0.2% at 10.176 against the euro.

The risk-sensitive Australian dollar also rose 0.3% to $0.7119, but it remained down 1.2% this week, affected by the decline in the stock markets.