19th August 2014
The dollar has ticked higher in forex trading markets today (August 19th), ahead of the publication of latest US inflation data.
According to the consensus estimate, the Labor Department figures will show consumer prices excluding food and energy increased by 0.2 per cent month on month in July.
Such a result would likely lead to further calls for the Federal Reserve to reassess its interest rate outlook, perhaps taking action before the end of the year.
The greenback was also supported after yesterday's report from the National Association of Home Builders revealed the US residential construction sector has expanded this month.
As a result, the dollar added a further 0.1 per cent to $1.3346 versus the euro. This followed a 0.3 per cent gain in the previous session - the most since August 5th.
Demand for the European shared currency has been muted amid suggestions a report this week is set to show the eurozone's manufacturing activity slowed last month.
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