Dollar falls after US inflation data from Reuters

© Reuters. One hundred dollar bills in a photo from the Reuters archive.

NEW YORK (Reuters) – It fell on Tuesday after data showed U.S. consumer price inflation rose less-than-expected last month, fueling expectations the Federal Reserve will cut the pace of rate hikes. interest at the end of its two months. One day meeting Wednesday.

And the dollar fell to its lowest level in six months before the data was released. The euro hit $1.0673, its highest level since June, and was last seen up 0.9% to $1.0631.

It fell to its lowest level in a week at 134.67 and recorded 135.55 yen in the latest transactions, down 1.5%.

The dollar index, which measures the currency against six major currencies, fell 0.9% to 104.02.

Data showed that consumer price inflation eased in November on a year-on-year basis after the cost of gasoline and used cars fell, bringing annual inflation to its lowest level in nearly a year. In the twelve months to November, the consumer price index rose 7.1%, the smallest increase since December 2021, after 7.7% in October.

Excluding the volatile food and energy components, the consumer price index rose 0.2% last month, after rising 0.3% in October. On an annual basis, core inflation rose 6% in November, after 6.3% in October.

(Prepared by Marwa Gharib for the Arab Bulletin – Edited by Mahmoud Salama)

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