The dollar on the rise, the euro weakened by 0.2 percent

The dollar on the rise, the euro weakened by 0.2 percent.

The dollar began an upward trajectory in London trade today as some US Federal Reserve (FED) officials dismissed the idea that this week’s US inflation data could encourage the central bank to slow monetary policy tightening.

The dollar index, which measures the value of the US currency against its main rivals, rose 0.2 percent on the day to 105.28 points, after four days of losses that took it down 1.2 percent from last week.

The euro fell 0.2 percent to $1.0295 and the British pound eased 0.3 percent to $1.2175, as the market reacted to statistics showing Britain’s GDP fell 0 in June, missing 1 percent, less than as expected.