NEW YORK: The US dollar was down in late trading on Tuesday due to the wide expectation of weaker US inflation, reported Xinhua.
The dollar index, which measures the greenback against six major peers, was down 0.06 per cent at 106.3750 in late trading.
The US dollar was losing ground Tuesday morning with the belief across markets that inflation might have already hit its peak, said a note by foreign exchange solution provider Monex USA.
The US is scheduled to release its consumer price index for July early Wednesday and the indicator is expected to see an obvious decline in terms of year-on-year and month-on-month expansion.
In late New York trading, the euro increased to US$1.0208 from US$1.0190 in the previous session and the British pound was down to US$1.2070 from US$1.2072 in the previous session. The Australian dollar fell to US$0.6956 from U$0.6980.
The US dollar bought 135.17 Japanese yen, higher than 134.86 Japanese yen of the previous session. The US dollar fell to 0.9540 Swiss franc from 0.9561 Swiss franc, and it rose to 1.2891 Canadian dollars from 1.2863 Canadian dollars. - Bernama