The US dollar is on track for a fourth straight weekly gain as market focus turns to US producer inflation (PPI) data.
The greenback remained strong despite a lower-than-expected reading of consumer inflation data in July, rising 3.2% against the expected 3.3%.
Tonight's PPI reading will be a clarification on the inflation situation in America whether price pressure increases again or not.
Tracking individual currency movements, the dollar index that measures the greenback's strength traded slightly lower at around 102.48.
The euro was little changed with the price continuing to hover around the 1.1000 level against the greenback.
Meanwhile, the pound struggled to post gains, taking advantage of data showing Britain's economy growing stronger in June and the second quarter of 2023.
It indirectly allays concerns about the impact of high inflation on economic activity in the UK.
Meanwhile, the yen continues to be stuck around lows against the greenback amid stronger US 10-year bond yields.
The Aussie dollar headed for a fourth straight weekly loss even as the central bank governor said interest rates may need to rise further, even if inflation eased as expected.
Additionally, the Canadian dollar traded flat after crude oil traded off its highs, while also being impacted by a stronger USD.
