The Dollar retreated slightly ahead of U.S inflation data

The Dollar retreated slightly ahead of U.S inflation data 

Aug 19th 2015

 

 The Dollar retreated slightly against the Euro at the beginning of Tuesday trading session, offsetting its gains achieved after the release of upbeat U.S. housing starts data. On the other hand, the devaluation of the Chinese currency has pushed the investors to turn to safe-haven currencies especially the Yen and the Swiss Franc which rose against the Dollar, while the British Pound rebounded to the highest level in 7 weeks against the Dollar.
Today the inventors’ main focus will turn to the U.S inflation report, and any positive economic data will increase expectations that the Federal Reserve will hike its interest rates as soon as the next month.

MBCFX Forex & CFDs Brokerage Firm