US dollar index is holding steady today after a drop in the last session as markets accessed the inflationary trends in the US and war related stress kept overall mood volatile. Consumer inflation in the United States increased at the fastest pace in three years as surging oil prices amid tensions with Iran weigh on global energy markets before the US Federal Reserve's policy meeting next week. Consumer price Inflation rose by 0.5 percent in May compared with the prior month, following a 0.6% rise in April, according to the US Labor Department's Bureau of Labor Statistics (BLS), and was 4.2% higher than this time last year. Dollar index is currently hovering at 99.69, up marginally on the day. The index had hit a two-month high above 100 mark earlier this week before giving up.
Powered by Capital Market - Live News