Dollar up as investors await US inflation data

The dollar rose broadly today, Friday, with the continued reluctance of investors to take risks ahead of the US inflation data expected next week, as well as sentiment affected by fears of an economic slowdown and the Federal Reserve (US Central Bank) raising interest rates.

According to Reuters, the dollar index, which measures the performance of the US currency against a basket of currencies, rose 0.155 percent to 103.34, after falling 0.24 percent in the previous session. The index is heading for gains for the second week in a row, which it has not recorded since October

The euro fell 0.15 percent to $ 1.072, heading for losses for the second week in a row, while the pound sterling fell in the latest trading by 0.24 to $ 1.2093, one day before the announcement of GDP data for the fourth quarter.

The yen fell 0.12 percent to 131.74 per dollar. The Japanese government intends to present candidates for the posts of governor of the Bank of Japan and two deputy governors to parliament on February 14.

Data on Friday showed that wholesale prices in Japan in January rose 9.5 percent year-on-year, adding to growing indications of inflationary factors that could keep the central bank under pressure to gradually abandon its broad stimulus programme.

The Australian dollar also fell 0.20 percent to $ 0.692, and the New Zealand dollar fell 0.24 percent to $ 0.631.