The US dollar continues to decline against the major currencies this morning, Thursday, February 11th, for the fifth session in a row, as the index, which measures the performance of the dollar against a basket of currencies (index dollars), is trading at 90.33 levels, with a loss of about 0.7 after closing yesterday’s trading session at 90.40 levels affected With the decline in inflation in the United States of America and Powell’s pessimistic statements about the US labor market.
The US Bureau of Labor Statistics, in its report issued on Wednesday, showed a decline in the consumer price index by 0.3 per cent in January, in line with expectations and compared to a growth of about 0.4 per cent last December. On the other hand, the annual inflation index stabilized at 1.4 percent, less than expectations for a rise to 1.5 percent. In the details, the food index rose to 3.8 percent, while the energy index decreased by -3.6 percent.
Jerome Powell, President of the US Federal Reserve, in turn, warned of the danger of the recent weak employment levels and their impact on the US economy, and indicated that the economy has a long way to go and stressed that the US Federal Reserve will not tighten monetary policy until the employment target is achieved and approaching the 2 percent target inflation levels.