By Harry Robertson and Laura Matthews
LONDON/NEW YORK, July 17 (Reuters) - The dollar was flat on Friday, on track for a weekly decline as tame U.S. inflation data led traders to cut bets on imminent rate hikes from the Federal Reserve.
Iran and the United States exchanged intensifying fire in a week-long escalation that has largely unravelled last month's truce, spurring safe-haven bids for the dollar and pushing oil prices to near one-month highs.
Meanwhile, U.S. consumer sentiment climbed to a five-month high in July, although traders said the respite may prove temporary with renewed conflict in the Middle East driving up gasoline prices.
"The tech-led global equity market plunge and ongoing disruption to Strait of Hormuz traffic have triggered a flight to safety," said Elias Haddad, global head of markets strategy at Brown Brothers Harriman. "USD recovered some of this week's losses, and global bond yields edged a bit lower."
LONDON/NEW YORK, July 17 (Reuters) - The dollar was flat on Friday, on track for a weekly decline as tame U.S. inflation data led traders to cut bets on imminent rate hikes from the Federal Reserve.
Iran and the United States exchanged intensifying fire in a week-long escalation that has largely unravelled last month's truce, spurring safe-haven bids for the dollar and pushing oil prices to near one-month highs.
Meanwhile, U.S. consumer sentiment climbed to a five-month high in July, although traders said the respite may prove temporary with renewed conflict in the Middle East driving up gasoline prices.
"The tech-led global equity market plunge and ongoing disruption to Strait of Hormuz traffic have triggered a flight to safety," said Elias Haddad, global head of markets strategy at Brown Brothers Harriman. "USD recovered some of this week's losses, and global bond yields edged a bit lower."
2 months ago
