US dollar retreats on softer-than-expected inflation data
US inflation rose less than forecast in August, reducing bets on Federal Reserve rate hikes. The dollar index fell 0.23% to 101.17.
(Updates prices) By Chibuike Oguh NEW YORK, Sept 30 (Reuters) — The dollar retreated against major currencies on Wednesday following data showing a smaller-than-expected increase in US inflation, which reduced market bets on an interest rate hike from the Federal Reserve. 3% last month. 4%. The dollar has been strengthening in tandem with rising US Treasury yields on growing expectations of more Fed rate hikes amid inflation driven by higher oil prices.
831%. 1361. The single currency is still headed for a monthly loss against the dollar after two consecutive months of gains. 05% versus the Swiss franc.
17. It is still headed for a monthly gain in September, snapping two straight months of losses. (Reporting by Chibuike Oguh in New York. com;)