Dollar Holds Gains as Traders Await US Inflation Data
The US dollar held firm near weekly highs on Friday as Middle East conflicts pushed oil prices higher. Markets now await crucial US inflation data ahead of the Federal Reserve meeting next week.
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The United States dollar held near its highest level in a week during Friday morning trading after Middle East conflict drove up Brent Crude Oil and bond yields ahead of key inflation data. The U.S. dollar index rose 0.4% on Thursday and traded slightly higher at 99.15. The currency advance followed data showing rising U.S. producer prices in August due to rebounding energy costs.
