The dollar held steady this weekend but was poised for a weekly decline as a softer-than-expected US inflation report this ‌week led traders to cut bets on imminent rate hikes from the Federal Reserve.
In currency markets, the euro was at $1.1445, set for a 0.29 percent rise in the week. Sterling fetched $1.3476, on course for a 0.56 percent gain in ​the week, its third straight week of gains on fading concerns over Britain’s fiscal outlook.
The Japanese yen was fetching 162.39 ​per US dollar, rooted near the 40-year low of 162.84 it touched at the start of the month.
That left the dollar index, which measures the US currency against six other units, at 100.72, set ​for a weekly drop of 0.24 percent. The index hit a one-month low earlier this week on easing chances ​of a near term rate hike, but safe-haven flows have helped support the greenback.
Source: Wam.ae
