Dollar Steadies After Fluctuations, Loonie and Sterling Decline

Deep News07-21

The Bloomberg Dollar Index, which had experienced volatility as traders closely monitored developments in the US-Iran conflict, ended the session with little change; the Canadian dollar fell against the US dollar following data showing a slowdown in Canadian CPI.

The US Dollar Spot Index stabilized after a series of fluctuations.

The USD/CAD pair rose 0.3% to 1.4060.

Data released by Statistics Canada on Monday showed the Consumer Price Index rose 2.8% in June, lower than the 3.2% recorded in May which was the highest level in over two years, and also below the 2.9% forecast by economists surveyed by Bloomberg.

The Canadian dollar touched its daily low following the data release.

The GBP/USD pair fell 0.1% to 1.3433.

The pound fell to its daily low as the UK's new Prime Minister, Andy Burnham, hinted he would consider using what he termed the "flexibility" within the existing fiscal rules to fund the upcoming budget.

The EUR/USD pair fell 0.2% to 1.1421, declining for a third consecutive day.

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