Dollar retreats as U.S. inflation surge comes in line with expectations

Published by
Reuters UK

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar fell to a fresh two-month low against a basket of currencies on Wednesday after data showed U.S. consumer prices rose solidly in December, but in line with economists’ expectations. The U.S. Dollar Currency Index, which tracks the greenback against six major currencies, was down 0.5% at 95.192, after slipping as low as 95.172, its lowest since Nov. 15. U.S. consumer prices surged in December, with the annual increase in inflation the largest in nearly four decades, which could bolster expectations that the Federal Reserve will start raising …

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