Due to the weaker than expected inflation data in United States, the U.S. Dollar Index dropped against the basket of six major currencies on Tuesday to end the session in the red at 96.97.
The U.S. Department of Labor Statistics released its monthly and yearly inflation data on Wednesday. The annual CPI dropped by 0.1 reaching 1.5 percent, while the core CPI fell to 2.2 percent as opposed to analysts’ expectations to remain steady. However, the monthly Core Inflation data came in line with the expectations as it rose from 0.0 to 0.1 percent during the month of February.
Despite the weaker U.S. Dollar, the Great British Pound fell against the Greenback to end the session on negative notes at 1.30726 GBPUSD, as the renegotiations of the U.K. Prime Minister Theresa May have suffered another defeat.
On the other hand, the European Euro rose against the U.S. Dollar to end the session up at 1.12867 EURUSD.
In terms of safe-havens, the Greenback rose against the Japanese Yen to trade higher at 111.361 USDJPY at the close, while it fell against the Swiss Franc to closer lower at 1.00752 USDCHF. Regarding the precious metal, Gold prices rose against the Greenback to end the trading session in the green territory at 1,301.630.
Elsewhere in Canada, the USD dropped against the Loonie to end the session in the red at 1.33529 USDCAD. The Loonie was supported by the higher oil prices, where the U.S Crude Oil rose to end higher at $57.06 a barrel.
Meanwhile, in Asia, the Aussie and Kiwi rose against their U.S. counterpart to end the session up at 0.70809 AUDUSD and 0.68601 NZDUSD.
In Cryptocurrencies space, the Bitcoin, Litecoin, and Ethereum rose against the Greenback to end up at 38,48.81 BTCUSD, 54.65 LTCUSD, and 134.06 ETHUSD.