According to data released on Wednesday (11th), the U.S. Consumer Price Index (CPI) rose less than expected in May because the decline in gasoline prices offset the rise in housing costs.
In other major currencies, the US dollar fell 0.43% and 0.40% against the Japanese yen and Swiss franc respectively, and fell 0.11% against the RMB.
Reuters reported that inflation is expected to accelerate in the next few months due to the implementation of import tariffs by the Trump administration.
After US President Trump said he would set a unilateral tariff rate within two weeks, the dollar fell against major currencies, and the dollar index fell to its low since April 22, at 98.327.
Although Trump has repeatedly publicly called on the Federal Reserve to cut interest rates, Federal Reserve Chairman Powell is not afraid of the president's pressure and chooses to keep the current interest rate unchanged.
The SGD exchange rate against the US dollar rose, and as of 12:15 pm local time on Thursday (June 12), the decline was 0.25%.
The dollar index has fallen 9% so farTrump's capricious tariff policies have caused turmoil in global markets, and a large number of investors have withdrawn from dollar assets due to concerns about rising prices and slowing economic growth. The dollar index has fallen 9% this year.
In addition, some analysts pointed out that the possibility of the Federal Reserve lowering interest rates by 25 basis points by 70% before September. The market generally expects interest rates in June to remain in the range of 4.25% to 4.50%.
The euro-dollar exchange rate rose to its highest point in the past seven weeks, and 1 euro can be against US$1.1515.