Dollar edges higher against euro after US inflation data
FILE PHOTO: Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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NEW YORK, Sept 11 : The U.S. dollar edged higher against major peers on Friday after closely watched inflation data showing higher consumer prices reinforced expectations of a Federal Reserve interest rate increase next week.
Labor Department data showed that the U.S. consumer price index increased 0.4 per cent in August after edging up 0.1 per cent in July. In the 12 months through August, consumer inflation advanced 3.4 per cent after rising by the same margin in July.
The dollar rose broadly against the euro and Swiss franc before giving back some of those gains immediately after the data.
The euro was down 0.07 per cent at $1.1602. The dollar strengthened 0.2 per cent to 0.814 against the Swiss franc.
Source: Reuters
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