Ahead of US inflation data, major currencies were flat on Wednesday, with traders being wary of placing big bets, with data due at 12:30 GMT.
Sharjah 24 – Reuters:
Major currencies were flat on Wednesday, with traders wary of placing big bets ahead of US inflation data, which markets will scrutinize for guidance on how sharply the Federal Reserve will raise interest rates in the coming months.
The data is due to be released at 12:30 GMT.
Economists expect core inflation to come in at 8.7% on an annual basis, a slight dip from June’s massive figure of 9.1%.
The core inflation rate is expected to record 0.5% on a monthly basis.
The dollar was broadly stable, having stalled slightly from the decline that began in mid-July.
It recorded 135 Japanese yen against the dollar, and it also recorded 1.0215 dollars against the euro and 1.2089 dollars against the British pound, in a negligible change during the day and almost unchanged since the beginning of the week.
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