U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing Rights
NEW YORK, Aug 31 (Reuters) – The dollar gained on Thursday and was on track for a monthly increase of 1.69% against a basket of currencies as U.S. data showed a mixed picture of the American economy, while the euro was weighed down by cautious comments by a leading European Central Bank hawk.
U.S. consumer spending increased by the most in six months in July, with an 0.8% increase, but slowing inflation strengthened expectations that the Federal Reserve would keep interest rates unchanged next month.
The personal consumption expenditures (PCE) price index rose 0.2% last month, matching June’s gain.
It comes after a string of data this week, including a drop in job openings to the lowest level in nearly 2-1/2 years in July, raised concerns that the…
