WASHINGTON (dpa-AFX) - The U.S. dollar is turning in a mixed performance against other major currencies on Wednesday. Traders are largely making cautious moves as they look for fresh signals.
The political uncertainty in the U.S. due to the ongoing government shutdown and the Brexit turmoil appear to be forcing traders to refrain from making big moves.
After losing the vote on her Brexit Plan yesterday, British Prime Minister Theresa May won the confidence vote against her government by a slender margin.
The Pound Sterling is trading at $1.2877, up 0.13% from previous close.
After she won the confidence vote, Theresa May said she would meet with leaders of opposition parties soon. May can propose an alternative deal on Monday, January 21.
Against the Euro, the dollar is trading at 1.1395, rising about 0.17%.
The Japanese Yen is trading at 109.07 against the dollar, up marginally from previous close.
The dollar is up marginally against loonie, while losing some ground against the Australian dollar.
In economic news from Eurozone, German consumer price inflation eased for a second straight month in December to its lowest level in eight months, latest figures from the Federal Statistical Office confirmed.
The consumer price index rose 1.7% year-on-year following a 2.3% increase in November. The latest inflation figure was the lowest since April, when price growth was 1.6%, same as in March.
Britain's annual inflation dropped 2.1% in December, the least in almost two years, from 2.3% in November, official data showed.
In economic news from the U.S., the Labor Department's report showed another steep drop in U.S. import prices in the month of December. The report said import prices tumbled by 1% in December after plunging by a revised 1.9% in November.
Economists had expected import prices to plummet by 1.3% compared to the 1.6% slump originally reported for the previous month. The report said export prices also fell by 0.6% in December after sliding by a revised 0.8% in November. The drop in export prices matched economist estimates.
The Federal Reserve's Beige Book said outlooks generally remained positive, although many districts reported that contacts had become less optimistic. The drop in optimism reflected increased financial market volatility, rising short-term interest rates, falling energy prices, and elevated trade and political uncertainty.
Copyright RTT News/dpa-AFX