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Dollar falls after inflation data and before Fed meeting

By Sinéad Carew

NEW YORK, Jun 10 (.) – The dollar index fell slightly on Thursday after a session of ups and downs, as investors digested high inflation data from the United States and the latest message from the European Central Bank (ECB), earlier from next week’s Federal Reserve meeting.

* After adopting a cautious attitude all week, subtracting volatility in the market and leaving most currencies in a narrow range, the data released on Thursday seemed to help little to define the trend of the greenback.

* The European Central Bank raised its growth and inflation estimates after its meeting on Thursday, but promised to maintain its broad monetary stimulus, fearing that an early withdrawal could accelerate a worrying rise in borrowing costs and stifle the recovery of the economy. Euro zone.

* In the United States, data showed that the number of people who filed for unemployment benefits fell last week to its lowest level in almost 15 months, while consumer prices rose again in May, as the recovery of the post-pandemic economy continued to boost domestic demand.

* The dollar index, which measures the greenback against a basket of rival currencies, has been fluctuating near the psychological high of 90 units, losing 0.08% to 90.067 units during the morning in New York.

* The euro fell 0.05% to $ 1.2172.

* “The global trend is a bit of a dollar weakness, not just because of robust growth in the United States. There has been robust growth around the world. Many economies have been recovering,” said Minh Trang, Silicon Valley Senior Trader Bank.

* “When you are generally optimistic about global growth, you usually create a mindset in which you think this will favor other currencies over the dollar,” he explained.

(Additional reporting by Ritvik Carvalho in London, Kevin Buckland in Tokyo. Edited in Spanish by Marion Giraldo)

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