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Forex News: U.S. Dollar Little Changed Following Inflation Data

U.S. Dollar Little Changed Following Inflation Data

06/28/2024 - 16:29:00 (RTTNews)

(RTTNews) - The value of the U.S. dollar is little changed on Friday following the release of closely watched inflation data that came in line with economist estimates.

Currently, the U.S. dollar index is trading at 105.87 points, down just 0.04 points or less than a tenth of a percent.

The greenback is trading at 160.91 yen versus the 160.76 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.0709 compared to yesterday's $1.0704.

The Commerce Department released a report showing its personal consumption expenditures (PCE) price index came in unchanged in May after rising by 0.3 percent in April. The unchanged reading matched expectations.

The core PCE price index, which excludes food and energy prices, inched up by 0.1 percent in May after climbing by an upwardly revised 0.3 percent in April.

Economists had expected the core PCE price index to tick up by 0.1 percent compared to the 0.2 percent increase originally reported for the previous month.

The Commerce Department also said the annual rates of growth by the PCE price index and the core PCE price index both slowed to 2.6 percent from 2.7 percent and 2.8 percent, respectively. The slowdowns also matched estimates.

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