USD Slows, Investors Wait for Another Cue!

<p>&nbsp;The US dollar is on track for a fourth straight weekly gain as market focus turns to US producer inflation (PPI) data.</p><p><br /></p><p>The greenback remained strong despite a lower-than-expected reading of consumer inflation data in July, rising 3.2% against the expected 3.3%.</p><p><br /></p><p>Tonight's PPI reading will be a clarification on the inflation situation in America whether price pressure increases again or not.</p><p><br /></p><p>Tracking individual currency movements, the dollar index that measures the greenback's strength traded slightly lower at around 102.48.</p><p><br /></p><p>The euro was little changed with the price continuing to hover around the 1.1000 level against the greenback.</p><p><br /></p><p><br /></p><p>Meanwhile, the pound struggled to post gains, taking advantage of data showing Britain's economy growing stronger in June and the second quarter of 2023.</p><p><br /></p><p>It indirectly allays concerns about the impact of high inflation on economic activity in the UK.</p><p><br /></p><p>Meanwhile, the yen continues to be stuck around lows against the greenback amid stronger US 10-year bond yields.</p><p><br /></p><p>The Aussie dollar headed for a fourth straight weekly loss even as the central bank governor said interest rates may need to rise further, even if inflation eased as expected.</p><p><br /></p><p>Additionally, the Canadian dollar traded flat after crude oil traded off its highs, while also being impacted by a stronger USD.</p>