Baku:The dollar remained weak on Wednesday as traders looked for fresh signals regarding the timing of interest rate hikes ahead of the release of US inflation data.

According to Qatar News Agency, the euro gained ground after European Central Bank President Christine Lagarde dismissed expectations of intervention to support France’s struggling bond market. The dollar found some support following gains in Asian shares and strong trade data from China.

Market focus is now on the upcoming US consumer price index data and speeches from Federal Reserve policymakers, which could provide clarity on the future path of interest rates. The dollar index, which compares the greenback to a basket of other currencies, dropped 0.09% to 102.09 after a 0.35% decline the day before.

In other currency movements, the euro increased by 0.09% to $1.1208, the yen rose 0.08% to 158.19 per dollar, and Sterling advanced by 0.15% to $1.3272. The Australian dollar rose 0.3% against the US dollar to $0.7001, and the New Zealand dollar climbed 0.29% to $0.5625.