Dollar edges higher against euro after US inflation data
[NEW YORK] The US dollar edged higher against major peers on Friday (Sep 11) after closely watched inflation data showing higher consumer...
On Friday, September 11, the US dollar experienced a slight increase against major currencies following the release of inflation data that suggested a potential interest rate hike by the Federal Reserve in the following week. According to the Labor Department, the US consumer price index rose by 0.4% in August, up from 0.1% in July.
Over the past year, consumer inflation grew by 3.4%, consistent with the July figure. The dollar showed an overall upward trend against the euro and Swiss franc before retracting some of its gains shortly after the data release. The euro's value fell by 0.07% to US$1.1602, while the dollar appreciated by 0.2% to 0.814 against the Swiss franc.
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