The Australian dollar fell and the yen gained further in Asia today, with China prices mixed after consumer levels eased, but producer fell less than expected.
In China, CPI data for May showed a drop of 0.5% month-on-month, more than the 0.2% fall seen, and 2.0% gain year-on-year, less than the 2.3% increases expected, while producer prices eased 2.8%, less than the 3.3% year-on-year drop expected.
Previously in Japan, core machinery orders for April plunged 11.0%, compared with a 3.8% drop seen month-on-month and at 8.2% decline year-on-year compared with a 2.3% drop seen.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last down 0.14% at 93.46.
At night stop, the dollar fell to fresh one-month lows against the other major currencies in quiet trade yesterday, as uncertainty over the timing of the next U.S. rate hike continued to dampen demand for the greenback.
Feeling for dollar remained fragile after Federal Reserve Chair Janet Yellen indicated on Monday that the U.S. central bank won’t be raising interest rates until uncertainty over the economic outlook is resolved.
Yellen said that she expects the economic recovery to be continued but she did not give any indications on the timing of a next rate increase.