Investing.com – The U.S. dollar was broadly lower against its major counterparts on Tuesday, as Chinese inflation data eased concerns over global growth and bolstered demand for higher yielding currencies.
During European afternoon trade, the greenback was lower against the euro, with EUR/USD rising 0.19% to hit 1.4440.
The greenback was also down against the pound, with GBP/USD climbing 0.15% to hit 1.6396.
Earlier Tuesday, official data showed that U.K. consumer price inflation rose in line with expectations in May.
The greenback slipped against the yen but edged higher against the Swiss franc with USD/JPY dipping 0.03% to hit 80.20 and USD/CHF gaining 0.20% to hit 0.8387.
The Bank of Japan left its benchmark interest rate unchanged at a record low of 0.1% earlier and announced a new JPY500 billion lending plan, in a move designed to bolster the earthquake-hit economy by channeling funds to industries.
Elsewhere, the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD sliding 0.16% to hit 0.9742, AUD/USD rising 0.41% to hit 1.0643 and NZD/USD advancing 0.38% to hit 0.8184.
Earlier in the day, Chinese government data showed that consumer price inflation rose at an annualized rate of 5.5% in May, broadly in line with expectations. Meanwhile, retail sales came in slightly higher than forecast and industrial output was slightly lower.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.16%.
Later Tuesday, the U.S. was to publish official data on retail sales and producer price inflation.
During European afternoon trade, the greenback was lower against the euro, with EUR/USD rising 0.19% to hit 1.4440.
The greenback was also down against the pound, with GBP/USD climbing 0.15% to hit 1.6396.
Earlier Tuesday, official data showed that U.K. consumer price inflation rose in line with expectations in May.
The greenback slipped against the yen but edged higher against the Swiss franc with USD/JPY dipping 0.03% to hit 80.20 and USD/CHF gaining 0.20% to hit 0.8387.
The Bank of Japan left its benchmark interest rate unchanged at a record low of 0.1% earlier and announced a new JPY500 billion lending plan, in a move designed to bolster the earthquake-hit economy by channeling funds to industries.
Elsewhere, the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD sliding 0.16% to hit 0.9742, AUD/USD rising 0.41% to hit 1.0643 and NZD/USD advancing 0.38% to hit 0.8184.
Earlier in the day, Chinese government data showed that consumer price inflation rose at an annualized rate of 5.5% in May, broadly in line with expectations. Meanwhile, retail sales came in slightly higher than forecast and industrial output was slightly lower.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.16%.
Later Tuesday, the U.S. was to publish official data on retail sales and producer price inflation.