Trump’s threat
The latest statement by US President-elect Donald Trump demanding that Brics nations pledge not to create or support a new currency to challenge the American dollar reflects growing apprehension about dedollarisation.
The US dollar rose against most major currencies as investors digested major economic data.
In late New York trading on Wednesday, the euro declined to $1.1793 from $1.1795 in the previous session, and the British pound decreased to $1.3168 from $1.3170 in the previous session, Xinhua reported.
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The Australian dollar dropped to $0.7584 from $0.7635.
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The dollar bought 112.95 Japanese yen, lower than 113.38 yen of the previous session. The US dollar declined to 0.9888 Swiss franc from 0.9893 Swiss franc, and it was up to 1.2769 Canadian dollars from 1.2731 Canadian dollars.
The US Labor Department said on Wednesday its Consumer Price Index (CPI) edged up 0.1 per cent last month after jumping 0.5 per cent in September.
Meanwhile, the year-on-year increase in the CPI went down to 2.0 per cent from 2.2 per cent in September. The latest readings were in line with market expectations.
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