Daily Insight -- Hryvnia near year's high
The US dollar fell under pressure due to disappointing US inflation data. The US Commerce Department said that the growth of consumer prices accelerated to 1.7% YoY in July from 1.6% YoY the previous month, missing the analysts' expectation of a 1.8% YoY increase. This report, together with July's PPI data (growth of 1.9% YoY, below expectation of 2.2% YoY), dampened expectations for a third hike of the key policy rate this year. Just after the CPI report, the DXY index dropped 0.45% to 93.03. However, the greenback recovered some loses later. The DXY index traded within 92.93 - 93.51 on Friday, having closed down 0.36% to 93.07.
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