U.S. dollar rises despite doubts on Fed rate hike

Source: Xinhua| 2017-07-18 05:14:11|Editor: yan
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NEW YORK, July 17 (Xinhua) -- The U.S. dollar rose against most major currencies on Monday despite markets' doubt on whether the Federal Reserve would raise interest rate again this year.

With no major data this week, investors continue to question the Fed' s confidence in inflation rebound, said analysts. The latest inflation data has pared expectation of another Fed rate hike this year.

The Consumer Price Index for All Urban Consumers was unchanged in June on a seasonally adjusted basis, the labor department reported on Friday, missing market consensus.

The dollar index, which measures the greenback against six major peers, was up less than 0.01 percent at 95.155 in late trading.

In late New York trading, the euro rose to 1.1478 U.S. dollars from 1.1466 U.S. dollars, and the British pound dropped to 1.3054 U.S. dollars from 1.3089 U.S. dollars in the previous session. The Australian dollar fell to 0.7797 U.S. dollar from 0.7824 U.S. dollar.

The U.S. dollar bought 112.63 Japanese yen, higher than 112.55 yen of the previous session. The U.S. dollar fell to 0.9622 Swiss franc from 0.9639 Swiss franc, and it edged up to 1.2690 Canadian dollars from 1.2646 Canadian dollars.