Dollar steadies, sterling eases ahead of inflation data

Singapore, June 19 (BNA): The dollar recovered some ground on Wednesday after soft U.S. retail sales data reinforced bets of imminent Federal Reserve rate cuts, while sterling dipped ahead of a reading on UK inflation due later in the day.

The euro was last marginally lower at $1.0736, while the dollar index steadied at 105.28, Reuters reported.

Sterling fell 0.02% to $1.2706 ahead of UK inflation data later on Wednesday, which comes before a policy decision by the Bank of England (BoE) on Thursday, where rates are expected to remain on hold.

The Aussie was last 0.12% higher at $0.6664, extending its 0.66% gain from the previous session. Meanwhile, the New Zealand dollar fell 0.19% to $0.6133.


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