Greenback Remains Flat with the Focus on CPI Next Week

The U.S. dollar remained almost unchanged as market participants digested comments from a slew of Federal Reserve officials and are waiting for US inflation data due next week.

Quoting a statement made by New York Fed President John Williams said at a Wall Street Journal event, he said, “Moving to a federal funds rate of between 5.00 per cent and 5.25 per cent “seems a very reasonable view of what we’ll need to do this year in order to get the supply and demand imbalances down.”

The dollar index was 0.029 per cent higher on Thursday at 103.460, having dropped nearly 0.3 per cent in the previous session.

The index is just off the one-month high of 103.96 it touched on Tuesday in a brief rally following Friday’s jobs report, which showed non-farm payrolls had surged by 517,000 jobs in January.

Meanwhile, the euro was up 0.04 per cent at $1.0713, off the one-month low of $1.067 it touched on Tuesday.

The Japanese yen weakened 0.11 per cent to 131.54 per dollar, while sterling was last trading at $1.2064, down 0.06 per cent on the day.

The Australian dollar rose 0.04 per cent to $0.693, while the kiwi was up 0.06 per cent at $0.631.

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