November 16, 2021
Economy

Dollar falls as U.S. consumer price rises temper in July, data show

  • U.S. core CPI slightly softer than expected in July
  • Euro rises, but remains within range of 2021 low of $1.1704
  • Bitcoin touches 11 week high

NEW YORK, Aug 11 (Reuters) – The dollar fell on Wednesday after U.S. inflation data showed consumer price increases eased in July, taking some pressure off the Federal Reserve to begin scaling back the monthly bond purchases that are part of its toolbox to support the economic recovery.

The dollar index , which measures the greenback against a basket of other major currencies, was down 0.17% at 92.915 at 3:05 p.m. ET (1905 GMT).(Graphic: World FX rates https://tmsnrt.rs/2RBWI5E)

Earlier, the U.S. currency hit 93.195, its highest since April 1, and not far off of its 2021 high of 93.439, but it sold off after data showed the consumer price index rose 0.5% last month after climbing 0.9% in June. Excluding the volatile food and energy components, the…

Read full article here: www.reuters.com