Sumary of FOREX-Dollar dips as soft U.S. inflation weighs; Fed in focus next week:
- By Gertrude Chavez-Dreyfuss4 Min ReadNEW YORK (Reuters) -The dollar slipped against major currencies on Wednesday after softer-than-expected U.S. inflation data released on Tuesday eased short-term expectations about tapering of asset purchases from the Federal Reserve.
- But the greenback trimmed losses after data showing import prices fell unexpectedly in August and a higher-than-expected reading for the New York Fed’s business survey.
- These reports offset data showing U.S. manufacturing output slowed in August, rising 0.2% from a 1.6% increase the previous month.
- Wednesday’s data showed Britain’s inflation rate hit its highest in almost a decade last month after a record jump that was largely fuelled by a rebound in restaurant prices.