Dollar Weakens as U.S. Inflation Cools; Rising Oil Prices Add Pressure
JH Kim
Summary
- June inflation in the U.S. cooled more than expected, leading to dollar weakness.
- Easing price pressures lowered the chances of a near-term interest-rate hike by the Federal Reserve.
- Rising tensions between the U.S. and Iran pushed up global oil prices, raising concern that inflation pressures could increase again.
Forecast Trend Report by Period
The dollar weakened after U.S. inflation in June cooled more than expected.
Walter Bloomberg reported on July 14 that easing price pressures also lowered the likelihood of a near-term interest-rate increase by the Federal Reserve.
Still, rising tensions between the U.S. and Iran have lifted global oil prices, fueling concern that inflation pressures could build again.
The euro and the pound strengthened against the dollar, while the Japanese yen remained near its weakest level in 40 years.
JH Kim
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