{"id":294893,"date":"2022-11-13T02:59:00","date_gmt":"2022-11-12T21:59:00","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=294893"},"modified":"2022-11-13T02:59:00","modified_gmt":"2022-11-12T21:59:00","slug":"dollar-extends-slide-after-inflation-data-knock","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/dollar-extends-slide-after-inflation-data-knock\/","title":{"rendered":"Dollar extends slide after inflation data knock"},"content":{"rendered":"<p>NEW YORK: The dollar fell across the board for a second straight day on Friday, as investors favoured riskier currencies following a cooler-than-expected US inflation data that boosted the case for the Federal Reserve to ease off its hefty interest rate hikes. Friday\u2019s dollar weakness was an extension of the move set off after Thursday\u2019s data that showed US consumer inflation rose 7.7% year-on-year in October, its slowest rate since January and below forecasts for 8%. The dollar\u2019s long rally over the last two years had drawn a host of dollar bulls leading to crowded positioning and Thursday\u2019s data left a lot of them looking for a quick exit, strategists said.<\/p>\n<p>\u201cIt\u2019s not just short-term trend-followers, momentum players having to get out of positions, but some long-term structural long dollar positions have to be unwound,\u201d said Marc Chandler, Chief Market Strategist, at Bannockburn Global Forex in New York.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK: The dollar fell across the board for a second straight day on Friday, as investors favoured riskier currencies following a cooler-than-expected US inflation data that boosted the case for the Federal Reserve to ease off its hefty interest rate hikes. Friday\u2019s dollar weakness was an extension of the move set off after Thursday\u2019s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-294893","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar extends slide after inflation data knock<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/dollar-extends-slide-after-inflation-data-knock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar extends slide after inflation data knock\" \/>\n<meta property=\"og:description\" content=\"NEW YORK: The dollar fell across the board for a second straight day on Friday, as investors favoured riskier currencies following a cooler-than-expected US inflation data that boosted the case for the Federal Reserve to ease off its hefty interest rate hikes. 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