The dollar came close to six week peak against a basket of currencies in Asian trade on Wednesday. While the euro goes down to touch a fresh 2014 low on the diverging interest rate outlook for the U.S. and euro zone
The dollar index was steady on 80.733, this rate is not that much different from Tuesday’s which closed on 80.837. It has met the expectations that U.S rates are up these days.
This data proved that U.S price rises to 0.3 percent in June. Whereas, the prices of main things like food and energy prices were merely increased to 0.1 percent.
The weakest inflation was of reading and market but it is expected that it will rose high in 2015 since U.S Federal Reserve’s is on track to reduce its bond purchase program.
According to, Ayako Sera, Senior market economist at Sumitomo Mitsui Trust Bank in Tokyo, the U.S market will go high next year whereas the European market will be reduced.
Euro got weaker in the previous session with a noticeable fall in Swiss Franc.