The US Dollar index rose slightly to 102.60 on Wednesday, just before Chair of the Federal Reserve of the United States (US Central Bank) Jerome Powell spoke to Congress, where his remarks are expected to reflect tightening monetary policy, and the Sterling has risen limited after stronger-than-expected UK inflation data.

The Consumer Price Index (CPI) stabilized inflation in Britain at 8.7 percent in May, despite hopes of falling from its April level. the Sterling briefly rose 0.3 percent against the Dollar to USD 1.2803 before settling at USD 1.2765.

However, the Chinese Yuan fell to a seven-month low against the Dollar at 7.1987 in domestic transactions, while the Yuan in foreign transactions exceeded 7.2 against the US dollar.

The Australian Dollar fell 0.9 percent and the most recent trading was USD 0.6786, and the New Zealand Dollar also declined before settling at around USD 0.6178.

Source: Qatar News Agency