Jul 14, 2023 - Economy
U.S. dollar decline accelerates with cooling inflation
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The U.S. dollar's decline accelerated this week following more data that shows inflation is cooling.
Driving the news: The ICE U.S. Dollar Index, which measures the currency against a basket of six major rivals, is on pace to reach its lowest level in over a year, MarketWatch notes.
- Be smart: Cooling inflation makes it more likely that the Fed will ease its rate-hike campaign, which last summer had pushed the U.S. Dollar Index to the highest level in decades.
What we're watching: Whether this helps big tech companies, which generate nearly 60% of their revenue from outside the U.S., and saw their earnings hurt by the stronger dollar last year.
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