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Currency: The dollar pales in the face of slowing US inflation

13/08/2021
Categories: Economy/Forex

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The dollar face a trend initiated the day before after the release of inflation data in the United States showing a slowdown in the rise in prices in the country. The greenback was down slightly on Thursday against the euro and major currencies.

Around 9:15 a.m. GMT (11:15 a.m. in Paris), the greenback lost 0.05% against the European currency, at 1.1745 dollars. The dollar index, which compares the greenback to a basket of other major currencies, also lost 0.05%. The price escalation hitting the pocketbooks of US consumers slowed in July, according to the CPI index released Wednesday by the Labor Department. Prices rose by 0.5% in July compared to June, a less marked increase than that of June compared to May (0.9%). The pound sterling, for its part, did not flinch at the good figures for the British economy published Thursday by the National Statistics Office (ONS). UK gross domestic product (GDP) rebounded strongly by 4.8% in the second quarter as the economy reopened after the lockdown at the start of the year. The British currency dropped 0.08% against the euro, at 84.71 pence, and 0.03% against the dollar, at 1.3863 dollars.

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