FOREX-Dollar drops as inflation comes in below economists' expectations

(Recasts with CPI data, updates prices; changes byline, dateline) By Karen Brettell NEW YORK, April 12 (Reuters) - The dollar dropped sharply on Wednesday after data showed that U.S. consumer prices rose less than expected in March, possibly reducing the odds that the Federal Reserve will continue to hike interest rates. The Consumer Price Index (CPI) rose by 0.1% in March, below economists’ expectations for a 0.2% gain. Core prices came in as expected, with a 0.4% increase. The dollar index dropped to 101.52, from around 102.11 before the data. The euro got as high as $1.09900, the highest since Feb. 2. The dollar dipped to 132.81 Japanese yen , from around 133.85 before the data.

======================================================== Currency bid prices at 8:39AM (1239 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change

Session
Dollar index 101.6100 102.1200 -0.48% -1.817% +102.1600 +101.5000 Euro/Dollar $1.0975 $1.0914 +0.57% +2.43% +$1.0990 +$1.0913 Dollar/Yen 132.9450 133.7100 -0.58% +1.40% +134.0400 +132.7400 Euro/Yen 145.89 145.89 +0.00% +3.98% +146.3800 +145.8000 Dollar/Swiss 0.8977 0.9034 -0.64% -2.93% +0.9034 +0.8970 Sterling/Dollar $1.2451 $1.2427 +0.20% +2.96% +$1.2470 +$1.2400 Dollar/Canadian 1.3447 1.3466 -0.15% -0.77% +1.3489 +1.3435 Aussie/Dollar $0.6710 $0.6654 +0.89% -1.52% +$0.6723 +$0.6649 Euro/Swiss 0.9851 0.9855 -0.04% -0.44% +0.9870 +0.9841 Euro/Sterling 0.8812 0.8782 +0.34% -0.36% +0.8819 +0.8781 NZ $0.6228 $0.6192 +0.61% -1.88% +$0.6242 +$0.6184 Dollar/Dollar
Dollar/Norway 10.4270 10.5470 -1.13% +6.26% +10.5670 +10.4130 Euro/Norway 11.4506 11.5157 -0.57% +9.12% +11.5460 +11.4319 Dollar/Sweden 10.3278 10.4583 -0.52% -0.77% +10.4554 +10.3070 Euro/Sweden 11.3365 11.3953 -0.52% +1.68% +11.4125 +11.3225
(Reporting by Karen Brettell Editing by Bernadette Baum)

Reuters

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