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Dollar Up but Increasing Commodity FxPremiere.com – The dollar was up on Tuesday morning in Asia, but gains were capped by expectations that already-surging commodity prices will rise further. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.06% to 90.237 by 11:53 PM ET (3:53 AM GMT). The USD/JPY pair inched up 0.10% to 108.89. Data released earlier in the day in Japan said that March’s household spending grew at a better-than-expected 7.2% month-on-month. Spending grew 6.2% year-on-year, the biggest gain since September 2019 and the first growth in four months. The AUD/USD pair inched up 0.03% to 0.7833 ahead of Australia’s federal budget, due to be handed down later in the day. The NZD/USD pair edged down 0.14% to 0.7264. The USD/CNY pair inched up 0.18% to 6.4270. China’s Consumer Price Index (CPI) just missed expectations, contracting 0.3% month-on-month but grew 0.9% year-on-year. The Producer Price Index (PPI) grew a better-than-expected 6.8% year-on-year. The GBP/USD pair inched down 0.01% to 1.4118, passing the 1.4-mark. Investors now await inflation data from the U.S., including core CPI, that will be released on Wednesday. The data will gauge the level of inflationary pressure and could push Treasury yields up, potentially giving the greenback a boost, according to some investors. Treasuries and the dollar have alternated between gains and losses as investor expectations on when the U.S. Federal Reserve will start moving away from its current dovish policy vacillate. A slew of Fed officials will also speak throughout the week, including Governor Lael Brainard later in the day. Across the Atlantic, Bank of England Governor Andrew Bailey will speak on Wednesday. "Right now, the easiest reflation trade is to watch commodity prices and buy commodity currencies... the markets have doubts about the Fed's benign view of inflation, but uncertainty about policy keeps some currency pairs in a tight range," Daiwa Securities foreign exchange strategist Yukio Ishizuki told Reuters. Against other currencies, the dollar was trading at C$1.2097 against its Canadian counterpart, the greenback’s weakest level in more than three years. It was also near a two-week low against the Mexican peso. How to Start Making a Profit With Forex Trading Additionally, supply constraints for some commodities could mean inflated prices in the short term, giving commodity-linked currencies a further boost. Dollar Down Pound Up Over Brexit In cryptocurrencies, ether traded at $3,906, slightly down from its recent record high of $4,200. Bitcoin also fell slightly to $55,578. Sterling gains dollar on back foot Subscribe to our Signals and start receiving Forex Day Trading Signals from the very next trade! What are commodities? Forex Signals Learning Guides below with guide you with every trade you make! FxPremiere Group has helped over 5,000 Forex Affiliates earn up to $800 CPA on referrals and has grown immense revenue streams for online affiliates. Trading Forex has never been easy. The World of Forex Trading is growing day by day and its crucial to keep up to date with trends and market analysis. Here at FxPremiere Group we keep you updated with the Compare Forex Brokers charting system, as well as sending you Direct Forex Signals by our Telegram Services globally daily. Dollar Up But Gains Capped by B.1.1.7 FX Signals The most traded pairs of currencies in the world are called the Majors.EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD, Gold, Oil and many many more... Forex Trading comes with it high risk. We help by referring only the very best forex brokers available in the marketplace. Your in safe hands with our partners.With our free forex learning guides you will be able to educate yourselves with the most up to date forex basics required in order to enter the Capital Markets. FxPremiere.com Learning centre is now available for all to read. With blog posts written monthly on the most common searched terms. Dollar Up but Increasing Commodity Free Forex Signals Telegram Channel | FX Signals Daily | Forex News Today| Forex Signals APP| Open Forex Account | Compare Forex Brokers | Forex Affiliates | Telegram Copy Trading | Best FX Indicator Home Live Forex News Dollar Up but Increasing Commodity