off-the-wire

European assets rally after data shows U.S. inflation slowing

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 12 (Reuters) - European stocks, currencies and bonds rallied on Wednesday after data showing headline U.S. inflation eased last month tempered expectations for further rate hikes from the Federal Reserve. The U.S. consumer price index rose 5% - the smallest year-on-year gain since May 2021. The euro climbed to a new two month high and was last up 0.57% at $1.09755, and Europe's STOXX 600 was last up 0.5%.


Other European currencies such as Norway's crown and the Swiss franc strengthened, with the franc reaching its firmest since June 2021.


Germany's 10 year bond yield, the benchmark for the euro zone , fell and was last down 1 basis point at 2.293%. Bond yields move inversely to prices.


(Reporting by European markets team, editing by Harry Robertson)

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