Forex - Dollar Down Slightly In Early Asia China India Data Ahead

Investing.com - The dollar fell slightly against the yen in early Asia on Friday with data from China and India later in the day providing a look at foreign flows.

chnged hands at 110.23. down 0.04%, while traded at 0.8001, down 0.04%.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.38% to 92.04.

Later in Asia, China reports and and India tentatively releases its data for August with an expected deficit of $11.34 billion, as well as .

Overnight, the dollar fell against a basket of major currencies on Thursday as a surge in sterling to one-year highs offset a duo of economic reports indicating the U.S. economy is poised for strong third-quarter economic growth.

The dollar failed to capitalize on better-than-expected inflation and initial claims jobless data in the wake of a surge in sterling amid rising expectations that the Bank of England will raise rates sooner rather than later.

The Labor Department said on Thursday its Consumer Price index rose 0.4% last month after edging up 0.1% in July. The uptick in consumer prices in August was the largest monthly gain in seven months and lifted the year-on-year increase in the CPI to 1.9% from 1.7% in July.

In a separate report the U.S. Department of Labor reported that initial jobless claims decreased by 14,000 to 284,000 in the week ended Sept. 10, confounding forecasts of a 2,000 increase.

A strong day for sterling, however, weighed on dollar sentiment, after the Bank of England kept rates unchanged but warned that interest rates were likely to rise for the first time in more than a decade in the “coming months” to curb the fast pace of inflation.

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