U.S. dollar ticks down on expectation of inflation peaking

NEW YORK, Aug. 9 (Xinhua) -- The U.S. dollar was down in late trading on Tuesday due to the wide expectation of weaker U.S. inflation.

The dollar index, which measures the greenback against six major peers, was down 0.06 percent at 106.3750 in late trading.

The U.S. dollar was losing ground Tuesday morning with the belief across markets that inflation might have already hit its peak, said a note by foreign exchange solution provider Monex USA.

The United States is scheduled to release its consumer price index for July early Wednesday and the indicator is expected to see an obvious decline in terms of year-on-year and month-on-month expansion.

In late New York trading, the euro increased to 1.0208 dollars from 1.0190 dollars in the previous session, and the British pound was down to 1.2070 dollars from 1.2072 U.S. dollars in the previous session. The Australian dollar fell to 0.6956 dollar from 0.6980 dollar.

The U.S. dollar bought 135.17 Japanese yen, higher than 134.86 Japanese yen of the previous session. The U.S. dollar fell to 0.9540 Swiss franc from 0.9561 Swiss franc, and it rose to 1.2891 Canadian dollars from 1.2863 Canadian dollars.

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