Sun, 27 Nov 2022

U.S. dollar slips after inflation data

Xinhua
01 Oct 2022, 06:44 GMT+10

NEW YORK, Sept. 30 (Xinhua) -- The U.S. dollar weakened in late trading on Friday as market participants sifted through a key inflation report.

The dollar index, which measures the greenback against six major peers, decreased 0.12 percent to 112.1160.

In late New York trading, the euro was up to 0.9810 U.S. dollars from 0.9793 dollars in the previous session, and the British pound was up to 1.1173 U.S. dollars from 1.1058 dollars in the previous session. The Australian dollar fell to 0.6410 U.S. dollars from 0.6478 dollars.

The U.S. dollar bought 144.77 Japanese yen, higher than 144.40 Japanese yen of the previous session. The U.S. dollar increased to 0.9861 Swiss francs from 0.9779 Swiss francs, and it rose to 1.3811 Canadian dollars from 1.3707 Canadian dollars.

The above market moves came after data showed a key gauge of U.S. inflation came in higher than expected in August despite the Federal Reserve's efforts to bring down prices.

The U.S. Commerce Department reported Friday that the core personal consumption expenditures (PCE) price index, which excludes food and energy, rose 0.6 percent in August, above the 0.5 percent consensus, for a 4.9 percent year-on-year increase.

The headline PCE inflation rose 0.3 percent for a 6.2 percent year-on-year gain, also above market estimates.

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