DOLLAR INDEX PULLS BACK AHEAD OF US INFLATION REPORT

Published on Sep 11, 2024 11:35

The dollar index slipped below 101 mark on Wednesday as investors turned cautious ahead of US inflation report that could impact the outlook for interest rates ahead of the Federal Reserve`s monetary policy meeting next week. The Labor Department is scheduled to release reports on consumer and producer price inflation in the month of August on Wednesday and Thursday, respectively. Markets also closely monitored the first debate between US presidential candidates Kamala Harris and Donald Trump ahead of the November election. The yield on the benchmark ten-year note, which moves opposite of its price, slid 5.1 basis points to 3.646 percent. The dollar index that measures the greenback against a basket of currencies is quoting at 100.98, down 0.28% on the day.