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The dollar is falling as investors await US inflation data

Adel 9 August, 2022 3:11 pm Daily Economic Reports, Economic Report, Market Update

The dollar fell during trading on Tuesday, August 8, as investors awaited US inflation data this week for signs that price pressures in the United States will ease after raising interest rates.

The dollar index, which measures the value of the US currency against a basket of six competing currencies, fell to 105.8 points, or 0.42%, and remained lower than its peak reached on Friday and lasted a week at 106.93 points.

The British pound rose to $1.2125, and the euro rose 0.48% to $1.0242.

The data is due to appear on Wednesday, with things expected to remain calm until then.

Economists polled by Reuters see inflation on an annual basis at 8.7 percent significantly higher, but still below 9.1 percent last month.

The US Federal Reserve aims to reduce inflation to 2%.

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