National

U.S. dollar plunges on softer-than-expected inflation data

Nov 11, 2022

New York [US], November 11: The U.S. dollar fell sharply in late trading on Thursday after data showing signs of inflation improvement in October U.S. consumer price index (CPI).
The dollar index, which measures the greenback against six major peers, shed 2.12 percent to 108.2040.
In late New York trading, the euro rose to 1.0183 U.S. dollars from 1.0005 dollars in the previous session, and the British pound increased to 1.1696 U.S. dollars from 1.1344 dollars in the previous session.
The U.S. dollar bought 141.84 Japanese yen, lower than 146.64 Japanese yen of the previous session. The U.S. dollar fell to 0.9666 Swiss francs from 0.9857 Swiss francs, and it was down to 1.3352 Canadian dollars from 1.3534 Canadian dollars. The U.S. dollar decreased to 10.6139 Swedish Kronor from 10.8935 Swedish Kronor.
The U.S. Labor Department reported Thursday that the country's CPI rose 0.4 percent in October, below the 0.6 percent consensus, for a 7.7 percent year-on-year increase. The core CPI, which excludes food and energy, rose 0.3 percent, also below the consensus estimate, for a 6.3 percent year-on-year increase.
The softer-than-expected October CPI report fueled market expectations for a less hawkish Federal Reserve, experts noted.
Source: Xinhua

More news

Former England Captain Terry Butcher: "I would pay 7 million to buy Maradona's Golden Ball just to destroy it!"

New Delhi [India], May 18: Diego Armando Maradona, for many - the greatest footballer of all time - was remembered at the stadium where he scored his first-ever international goal for Argentina back in 1979 - Hampden Park, Glasgow. His achievements were recalled by two contrasting figures in his footballing journey. Argentinian World Cup-winning legend Ossie Ardiles, an international teammate and friend of Diego's and perhaps Diego's most famous opponent, legendary England Captain Terry Butcher.

May 18, 2024