Dollar Hits One-week Lows

The U.S. dollar is trading at a one-week low against peer currencies after softer-than-expected inflation figures. In turn, investors are still waiting for the Federal Reserve to begin the tapering process, and worse-than-expected Chinese data softened both the yuan and Australian dollar. At press time, the dollar stood at 92.536 or 0.2% lower since Tuesday, while the index has wavered between 92.3 and 92.9. The Federal Open Market Committee will host its monetary policy meeting next week, and it could announce a new tapering plan that should benefit the value of the dollar.