The U.S. dollar looked listless on Friday, sliding against a handful of its major rivals but rallying against some emerging markets amid worries over further sanctions on Turkey.
The ICE U.S. Dollar Index which measures the greenback against six developed market rivals, slipped 0.4% to 96.303. The gauge is on track for a 0.1% loss this week—its worst performance in four weeks, according to FactSet.
The buck weakened most notably against the Canadian dollar which rallied on the back of an inflation report. The data showed that Canada’s consumer prices rose 3% in the year leading up to July, beating consensus estimates of 2.5%. Inflation is one of the key data points used for central banks to determine their monetary policy path, and Friday’s data gave hope of a Bank of Canada hike. The U.S. dollar last bought $1.3078, down from $1.3157 late Thursday.
Japan’s yen was also stronger, with the buck slipping to ¥110.51, compared with ¥110.89 late Thursday in New York.
Source : Market Watch