The dollar is near a month’s peak with a focus on inflation – economic – the UAE economy

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The dollar settled near a month’s peak, against a basket of currencies, as investors try to ascertain whether the US Federal Reserve will change its tone on stimulus, after the recent jump in US inflation. There was little change in the dollar index at 90.499, after it recorded its highest level in one month, the day before yesterday, despite the mixed economic data. Retail sales fell more than expected in May, while April’s data was revised to record a sharp rise, and increased significantly from its pre-pandemic level. The data reinforced the belief in a strong recovery in the economy, with spending returning again. (New York – Reuters)

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