Doha: The dollar held steady following the release of US inflation data on Wednesday, which diminished the likelihood of an imminent interest-rate hike by the Federal Reserve. The dollar maintained its position against the yen, setting it on a path for a weekly gain of approximately 0.4%.
According to Qatar News Agency, the dollar index remained unchanged at 100, yet it is projected to achieve a weekly gain of about 0.4%. The US currency traded at 159.44 yen, nearing the critical 160 level that is closely monitored by investors and analysts.
In other significant currency exchanges, the euro remained steady at $1.1523. Meanwhile, the pound experienced a slight dip of 0.05% to $1.3489. The Australian dollar saw a decrease of 0.2% to $0.7049, and the New Zealand dollar dropped by 0.4% to $0.5832, reflecting the broader currency market movements influenced by the latest economic data from the US.