Dollar Strengthens‍ for Third Consecutive Trading Day

Reporter Hyunho Jo hyunho@ (Etoday DB)

The ⁣dollar strengthened⁤ for the third consecutive trading day on the 10th⁣ (local time),⁢ with the dollar index rising 0.08% from the previous day to 101.63.

The market is closely watching key inflation data and the⁣ U.S. presidential debates this week. On the 11th, the August Consumer Price Index (CPI) will be released, and on the 12th, the August Producer​ Price Index⁤ (PPI) will be released.

The Federal⁤ Reserve (Fed) is expected to hold the Federal Open Market ​Committee ⁤(FOMC)⁣ monetary policy meeting on the 17th and 18th. ⁣The⁢ market is expecting a 0.25%p decline in the ⁤base rate, which is about three times higher⁢ than the probability of 0.50%p.

Democratic Vice ⁢President Kamala Harris and Republican‍ former President ​Donald⁢ Trump ⁤will hold a televised debate hosted by ABC News at the National Constitution Center ⁢in Philadelphia, Pennsylvania at 9⁤ p.m. (10 a.m. on⁤ the 11th,⁤ Korean time). This debate ⁢has garnered significant interest⁤ since ⁤President Joe Biden declared that he would not run for reelection after suffering‍ a crushing defeat​ in the first televised debate with Trump on June 27th.

Safe-haven currencies such as the yen and the ⁤Swiss franc gained ground after U.S. authorities ⁣announced measures to tighten ⁤bank ⁣capital regulations. The plunge in oil prices also‍ added⁤ to the anxiety, putting‍ pressure on these currencies to appreciate.

The yen-dollar ⁤exchange rate⁤ fell 0.05% from the previous day to 142.7 yen. Excluding the previous day, ‍it has⁣ been on a downward trend since the 3rd.

The Swiss franc-dollar exchange rate was recorded at 0.8466 francs, down 0.3%.

Key Economic Indicators to Watch

• August Consumer Price Index ​(CPI) – 11th
• August Producer Price Index (PPI) – 12th
• Federal Open Market Committee ‍(FOMC) monetary policy meeting – 17th and 18th

Related Topics

• US Presidential Debates
• Federal Reserve Monetary Policy
• Global Economic Trends