The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on...
SINGAPORE - The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England .
"One set of data is unlikely to be sufficient for the MPC to be able to gain confidence on the path of inflation, and the MPC may lean in favour of waiting for more data. Our view is as data improves over summer, the MPC will have greater confidence to cut rates in September." "The consensus is looking for a benign 0.2% lift in the core CPI. We think that may also be the case," said Carol Kong, a currency strategist at Commonwealth Bank of Australia.
Elsewhere, the New Zealand dollar rose 0.11% to $0.60885, nursing some of its losses from the previous session, when it fell 0.7% in the wake of the Reserve Bank of New Zealand's dovish tilt in its monetary policy statement. The BOJ is expected to lay out a plan on how to taper its huge bond buying at its upcoming policy meeting on July 30-31, as it works gradually towards policy normalisation.The former president went off on a strange tangent about a "beautiful waitress" before pivoting to a backhanded attack on Chris Christie. -- Costco Wholesale Corp. is boosting its membership fees for the first time since 2017, raising the charge for a basic membership to $65 a year from $60.
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