Forex
Silver Rallies to $66.40 as USD Declines Ahead of CPI Data
The price of Silver (XAG/USD) has risen to nearly $66.40 during the Asian trading session on Wednesday, as the US Dollar remains under pressure.
The US Dollar Index (DXY), which measures the Greenback's value against six major currencies, is trading slightly lower at 98.76, nearing its two-week low of 98.72 set on Tuesday.
A weaker US Dollar makes Silver a favorable risk-reward bet for investors, with expectations that the Federal Reserve (Fed) could raise interest rates next week still in play.