# Embracing inclusive FinTech: A path to financial empowerment Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-08-13 Category: TRADING Category URL: https://financedigest.com/category/trading Meta Title: Empowering Financial Inclusion with Inclusive FinTech Meta Description: Discover the transformative power of inclusive FinTech in driving financial empowerment and inclusion for all, especially low-income migrant workers in the URL: https://financedigest.com/embracing-inclusive-fintech-a-path-to-financial-empowermenthtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2021-08-13t010223z1lynxmpeh7c00mrtroptp3global-forex-1736838014973-compressed.jpg) By Saqib Iqbal Ahmed and Saikat Chatterjee NEW YORK (Reuters) – The U.S. [dollar fell to a one-week low](https://www.financedigest.com/euro-rises-after-spanish-cpi-dollar-slips-towards-8-mth-low.html "Euro rises after Spanish CPI, dollar slips towards 8-mth low") against a basket of currencies on Friday, after a survey showed U.S. consumer sentiment [dropped sharply in early August to its lowest level](https://www.financedigest.com/optimism-levels-drop-to-low-of-17-percent-according-to-first-survey-since-banking-regulations.html "Optimism levels drop to low of -17 percent, according to first survey since banking regulations") in a decade. The University of Michigan said its preliminary consumer [sentiment index fell to 70.2 in the first half of this month](https://www.financedigest.com/6-months-to-go-until-brexit-and-investor-sentiment-remains-bold.html "6 months to go until Brexit and investor sentiment remains bold") from a final reading of 81.2 in July. That was the lowest level [since 2011 and one of the six largest drops in the past 50 years of the survey](https://www.financedigest.com/sentiment-in-uk-finance-falls-at-fastest-pace-since-2019-survey.html "Sentiment in UK finance falls at fastest pace since 2019, survey"). ![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/pasted-image-1628865276285-450x294-1736838014897-compressed.jpg) Graphic: Sentiment hurt, https://fingfx.thomsonreuters.com/gfx/mkt/zgvommwbavd/Pasted%20image%201628865276285.png Investors this [week have been treated to a mixed bag of data](https://www.financedigest.com/dollar-dips-ahead-of-inflation-data-later-this-week.html "Dollar dips ahead of inflation data later this week"). While U.S. producer prices data out Thursday showed [surging](https://www.financedigest.com/unicredit-sets-out-8-billion-aid-package-for-italy-clients-hit-by-surging-prices.html "UniCredit sets out billion aid package for Italy clients hit by surging prices") prices, bolstering the case for the Federal Reserve removing some of its stimulus, it followed U.S. [consumer price](https://www.financedigest.com/analysis-to-raise-prices-or-not-consumer-goods-makers-weigh-bets-on-buyer-strength.html "Analysis-To raise prices or not? Consumer goods makers weigh bets on buyer strength") data on Wednesday, which indicated inflation may be peaking, potentially giving the Fed room to remain accommodative for longer. The prime driver this week was this idea that a deceleration in [inflation pressures](https://www.financedigest.com/analysis-china-central-bank-under-pressure-to-ease-is-hemmed-in-by-inflation-fed-jitters.html "Analysis-China central bank, under pressure to ease, is hemmed-in by inflation, Fed jitters") will reduce the impetus for an earlier tapering of Federal Reserve asset purchases,” said Karl Schamotta, chief market strategist at Cambridge Global Payments in Toronto. What’s happened here is traders have [moved their expectation for a tapering announcement from September toward](https://www.financedigest.com/the-biopesticides-market-to-move-towards-constructive-advancements.html "The Biopesticides Market To Move Towards Constructive Advancements") November, perhaps even December,” Schamotta said. The dollar index, which measures the greenback against a basket of six rivals, was 0.4% lower at 92.598, its lowest since Aug 6. Traders continue to look toward the Fed’s [central banking](https://www.financedigest.com/dollar-skulks-at-eight-month-low-central-bank-meetings-in-focus.html "Dollar skulks at eight-month low, central bank meetings in focus") conference in Jackson Hole, Wyoming, later this month, for clues to the Fed’s next move. (Federal Reserve Chair Jerome) Powell may use the Jackson Hole platform to provide further clarity on the sequencing of the Fed’s monetary tightening operations – making it clear that a tapering announcement, when it comes, will not act as a temporal anchor for changes in the [Fed funds rate,”](https://www.financedigest.com/wage-data-dents-dollar-recovery-before-fed-rate-decision.html "Wage data dents dollar recovery before Fed rate decision") said Schamotta. “The goal is to tame a possible taper tantrum before it gets started,” he said. Sterling was 0.33% [higher against the broadly weaker dollar](https://www.financedigest.com/powells-warning-on-higher-u-s-rates-pushes-dollar-to-3-mth-high.html "Powell’s warning on higher U.S. rates pushes dollar to 3-mth high"), but remained on pace for a second straight week of modest declines as investors look for fresh catalysts for the British currency’s next move after Britain’s growth figures for the second quarter came in as expected. Elsewhere, bitcoin climbed 4.624% to $46,500, nearing Wednesday’s three-month peak of $46,787, while Ethereum rose 5.81% to $3,221.52. (Reporting by Saqib Iqbal Ahmed and Saikat Chatterjee; editing by Jonathan Oatis) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---