By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: US Dollar is Collapsing
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Opinion > Shayne Heffernan > US Dollar is Collapsing
Headline News

US Dollar is Collapsing

Shayne Heffernan Ph.D.
Last updated: July 14, 2023 4:24 am
Shayne Heffernan Ph.D.
Share
5 Min Read
c7f5eb4ff5ad855c0ad4d45a98513b86
SHARE

The U.S. dollar suffered substantial losses on Wednesday after the U.S. consumer price index (CPI) for June showed the rate of inflation slowing to the lowest level since 2021.

The dollar index, which measures the greenback against six major peers, decreased 1.19 percent to 100.5220 in late trading, hitting its lowest in more than a year, which is also its largest daily percentage loss since early February.

The U.S. annual inflation slowed to 3 percent last month, the smallest annual pace since March 2021, according to the latest CPI released Wednesday by the U.S. Bureau of Labor Statistics. Core inflation, which excludes volatile food and energy prices, fell to 4.8 percent annually, below a consensus projection of 5 percent.

“The dollar selling off across the board after today’s soft U.S. inflation report intensified bets that the Federal Reserve’s rate hike cycle may soon be nearing an end,” said Matthew Ryan, head of market strategy at global financial services firm Ebury.

However, Federal Reserve Bank of Richmond President Thomas Barkin said backing off too soon on rates would require the Fed to do even more in the future, since the U.S. inflation rate is still too high.

Neel Kashkari, Minneapolis Federal Reserve president, also said that banks need to be ready for entrenched inflation.

In late New York trading, the euro increased to 1.1137 dollars from 1.0999 dollars in the previous session, and the British pound was up to 1.2991 dollars from 1.2928 U.S. dollars in the previous session.

The U.S. dollar decreased to 1.3192 Canadian dollars from 1.3239 Canadian dollars in late New York trading, after the Bank of Canada raised its key interest by another 25 basis points to 5 percent on Wednesday and resumed its rate hikes in June.

The U.S. dollar bought 138.3180 Japanese yen, lower than 140.4630 Japanese yen of the previous session.

The greenback also hit its lowest against the Swiss franc since early 2015, as it decreased to 0.8670 Swiss francs from 0.8799 Swiss francs on Wednesday, and down to 10.3800 Swedish Krona from 10.6696 Swedish Krona. ■

7121aadae83046419338d481324354eb

People shop at an Outlets in San Francisco Bay Area, California, the United States, July 12, 2023. The U.S. dollar suffered substantial losses on Wednesday after the U.S. consumer price index (CPI) for June showed the rate of inflation slowing to the lowest level since 2021.

The U.S. annual inflation slowed to 3 percent last month, the smallest annual pace since March 2021, according to the latest CPI released Wednesday by the U.S. Bureau of Labor Statistics. (Photo by Li Jianguo/Xinhua)

a7b410d8b61f4708ba5f94fb0b7c0a83

Customers order food at an Outlets in San Francisco Bay Area, California, the United States, July 12, 2023. The U.S. dollar suffered substantial losses on Wednesday after the U.S. consumer price index (CPI) for June showed the rate of inflation slowing to the lowest level since 2021.

The U.S. annual inflation slowed to 3 percent last month, the smallest annual pace since March 2021, according to the latest CPI released Wednesday by the U.S. Bureau of Labor Statistics. (Photo by Li Jianguo/Xinhua)

57d6feaa21fc48fca20c1bd62b3d8846

A woman shops at an Outlets in San Francisco Bay Area, California, the United States, July 12, 2023. The U.S. dollar suffered substantial losses on Wednesday after the U.S. consumer price index (CPI) for June showed the rate of inflation slowing to the lowest level since 2021.

The U.S. annual inflation slowed to 3 percent last month, the smallest annual pace since March 2021, according to the latest CPI released Wednesday by the U.S. Bureau of Labor Statistics.

Shayne Heffernan

You Might Also Like

The 20 Great Quotes of John McAfee

New Cold War Looms as Tariffs Shift from Trade to Politics

America Party: Terminal Debt Crisis and Elon Musk Buy $BTC

Bitcoin Might Be Bumpy BUY THE DIP

KXCO and the New World of Money

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Shayne Heffernan Ph.D.
Follow:
Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
Previous Article cryptocurrency Bitcoin Lifts on Ripple News
Next Article thediplomat network 3524352 1280 China and the Platform Economy
Buy Bitcoin

Buy Bitcoin

Latest News

bitcoin kxco
KXCO’s Position in Tokenized Cash and Cross-Border Payments
AI Bitcoin Blockchain Blockchain for Government Business cefi Crypto DeFI Digital Assets Fintech Gold Headline News Knightsbridge KXCO KXCO Opinion Shayne Heffernan Stablecoins USD Web3 July 3, 2025
Hong Kong
Hong Kong is Back
Business China Crypto Featured Headline News Hong Kong Knightsbridge Insights KXCO Opinion Politics Shayne Heffernan Shayne Heffernan Shayne Heffernan on Investments July 3, 2025
photo 2023 12 10 22 43 50
China AI a Hot Sector $BABA $BIDU
AI Artificial Intelligence Asia China Featured Headline News Knightsbridge Insights KXCO Opinion Shayne Heffernan Shayne Heffernan on Investments July 2, 2025
elon musk 1
Elon Musk and Napoleon: Ambition, Power, and the Shadow of Exile
America Headline News Opinion Politics Shayne Heffernan July 1, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?