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U.S. Dollar Drops Against Majors

The U.S. dollar declined against its major counterparts in pre-European deals on Monday.

The greenback dropped to a 4-day low of 1.0005 against the franc, from a high of 1.0024 hit at 7:10 pm ET.

Reversing from an early high of 0.6758 against the kiwi, the greenback edged down to 0.6783.

The greenback slipped to 5-day lows of 1.1707 against the euro, 1.3251 against the pound, 0.7440 against the aussie and 1.3137 against the loonie, from its early highs of 1.1676, 1.3225, 0.7409 and 1.3163, respectively.

The greenback eased back to 112.34 against the yen, heading to pierce its early 4-day low of 112.20.

The greenback is likely to find support around 0.98 against the franc, 1.19 against the euro, 1.34 against the pound, 111.00 against the yen, 0.76 against the aussie, 0.69 against the kiwi and 1.30 against the loonie.

The material has been provided by InstaForex Company – www.instaforex.com

Denmark PPI Inflation Highest Since Nov 2011

Denmark’s producer price inflation accelerated further in June to the highest level in more than six-and-a-half years, figures from Statistics Denmark showed Monday.

The producer price index climbed 6.8 percent year-over-year in June, faster than the 3.9 percent increase in May. The measure has been rising since November 2016.

Moreover, this was the sharpest rate of increase since November 2011, when prices had grown the same 6.8 percent.

Domestic market prices rose 9.1 percent annually in June and foreign market prices went up by 4.9 percent.

Month-on-month, producer prices increased 1.5 percent in June after rising 1.2 percent in the preceding month.

The material has been provided by InstaForex Company – www.instaforex.com