Dollar Index slips below 100 as soft PPI cools Fed hike bets
The US Dollar Index traded near 99.90 during Asian hours on Friday after softer producer price data reduced expectations for tighter Federal Reserve policy.
DXY
The US Dollar Index was near 99.90 in Asian trading on Friday, below the 100.00 level. The index tracks the greenback against a basket of six major currencies.
Renewed dollar weakness came after cooler US producer price inflation dampened market expectations for additional Federal Reserve rate hikes. Softer inflation data tends to reduce the appeal of holding dollars relative to other major currencies.
Source: FXStreet Forex News