USD continued its losses against the other currencies as a rise in investors concerns ahead of U.S political uncertainty and over whether the Fed will decide to hike the interest rate this year. USD pressured by Friday’s report which showed that while U.S. economy is growing fast in the second quarter, wage growth remained sluggish.
Purchasing Manager index in Chicago declined from 65.7 the highest level in three years to 58.9 in July. However, Pending home sales, increased by 1.5% in June. USD dropped against the basket of six major currencies at 92.87.
In Eurozone, the European inflation came in line with expectations, but underlying inflation reached the highest level since four years ago, gives the ECB greater opportunity to begin reducing the monetary stimulus in the coming autumn. EUR jumped against USD at 1.1845.
Also, GBP rose against USD at 1.3183 as investors are keeping their eyes on Brexit proceeding after the Prime Minister Theresa May said that the freedom of movement would end in March.
USD was weaker against the safe-haven yen at 110.47, close to 110.31, its lowest level since six weeks.
However, USD rose against its Canadian counterpart at 1.2490. CAD rose on Friday supported by positive economic data, where the data came stronger than expected. while AUD remained flat against its U.S counter part at 0.8030.
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