US Dollar Slides Against G10s as US-Iran Seek Diplomatic Talks
The US dollar weakened against most of the G10 currencies during European trading on Friday, as Washington and Tehran sought to restart talks despite two days of escalating retaliatory attacks that reportedly killed at least 14 people. "A week of revamped Middle East tensions has left the dollar broadly unchanged. Oil prices have come back lower, allowing risk sentiment and high-yielding EM FX to rebound," ING strategists said Friday. The US Dollar Index, a measure of the greenback's strength against the basket of major currencies, nudged lower 0.06% in the failed effort to trade above the 101 level. It is currently trading at 100.84 on Friday. A quick look at the majors ahead of the European lunch hour and the North American open. In Europe, EUR/USD inched up 0.02% to 1.14322 as the euro outperformed the fragile dollar on Friday. From the German front, the Consumer Price Index dropped 0.30% in June, compared with a 0.2% decline in May. Measured on a yearly basis, the inflation rate cooled to 2.3% in the same month compared with 2.6% in May. From the euro front, the Harmonized Inflation Rate in Germany, measured on a monthly basis, dropped to -0.20% in June from -0.10.
The US dollar weakened against most of the G10 currencies during European trading on Friday, as Washington and Tehran sought to restart talks despite two days of escalating retaliatory attacks that reportedly killed at least 14 people. "A week of revamped Middle East tensions has left the dollar broadly unchanged.
Oil prices have come back lower, allowing risk sentiment and high-yielding EM FX to rebound," ING strategists said Friday.
The US Dollar Index, a measure of the greenback's strength against the basket of major currencies, nudged lower 0.06% in the failed effort to trade above the 101 level.
It is currently trading at 100.84 on Friday.
A quick look at the majors ahead of the European lunch hour and the North American open.
In Europe, EUR/USD inched up 0.02% to 1.14322 as the euro outperformed the fragile dollar on Friday.
From the German front, the Consumer Price Index dropped 0.30% in June, compared with a 0.2% decline in May.
Measured on a yearly basis, the inflation rate cooled to 2.3% in the same month compared with 2.6% in May.
From the euro front, the Harmonized Inflation Rate in Germany, measured on a monthly basis, dropped to -0.20% in June from -0.10.