U.S. Dollar Relocations Decently Higher Versus Euro, Yen

By | January 11, 2019

The U.S. dollar has moved decently higher versus the euro and the yen on Friday, although traders appear reluctant to make more significant relocations.

Presently, the dollar is trading at 108.49 yen compared to the 108.43 yen it fetched at the close of New York trading on Thursday. Versus the euro, the dollar is valued at $1.1465 compared to yesterday’s $1.1500.

The British pound has moved notably greater versus the dollar, however, with the pound valued at 1.2844 compared to the dollar.

The dollar has actually partly taken advantage of its appeal as a safe house amidst concerns about the ongoing federal government shutdown and suspicion about a potential trade deal between the U.S. and China.

On the economic front, the Labor Department released a report showing a slight drop in consumer rates in the month of December.

The Labor Department said its consumer price index slipped by 0.1 percent in December after coming in unchanged in November. The slight drop in customer rates matched economic expert price quotes.

Energy prices showed another significant reduction throughout the month, plunging by 3.5 percent in December following a 2.2 percent downturn in the previous month.

A steep drop in gasoline rates led the way lower, with gas prices plummeting by 7.5 percent in December after tumbling by 4.2 percent in November.

On the other hand, the report said food prices climbed by 0.4 percent in December, the largest increase considering that Might of 2014. Prices for vegetables and fruits surged greater.

Omitting food and energy costs, the core customer price index increased by 0.2 percent in December, matching the boosts seen in the 2 previous months in addition to expectations.

Higher prices for shelter, recreation, medical care, and home furnishings and operations more than offset lower rates for airline fares, utilized cars and trucks, and motor vehicle insurance.

The report stated the yearly rate of take in price development slowed to 1.9 percent in December from 2.2 percent in November, while the yearly rate of core customer price development was the same at 2.2 percent.

The product has been provided by InstaForex Business – www.instaforex.com

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