The US dollar failed to sustain its bounce in the run up to a key US inflation reading at the end of the week. In the broader market, the dollar was struggling to find a floor, after having risen 0.48% in the previous session. The dollar index was last 0.07% lower at 100.94. Still, the kiwi was a notable outperformer in the Asian session, scaling an eight-month top $0.6295. The Reserve Bank of New Zealand had earlier this month delivered its first rate cut in over four years and signalled more to come. The euro inched back toward its 13-month high and last bought $1.1135. Sterling rose 0.14% to $1.3209. The Australian dollar hovered near an eight-month top, gaining 0.27% to $0.6803. The yen was little changed at 144.67 per dollar and was eyeing a 3.7% gain for the month. Source: Qatar News Agency
Monday, September 16, 2024