off-the-wire

Dollar falls after smaller-than-expected rise in U.S. inflation, euro edges higher after ECB decision

Kitco Media
By Reuters
Published:
Updated:
Reuters
Dollar falls after smaller-than-expected rise in U.S. inflation, euro edges higher after ECB decision teaser image

NEW YORK/LONDON, Dec 18 (Reuters) - The dollar lost ground against its major counterparts on Thursday after data showed a lower-than-expected rise in U.S. inflation, while sterling turned higher as a deeply divided Bank of England cut rates.

U.S. inflation rose 2.7% year-on-year in November, according to Labor Department data, compared with a 3.1% increase forecast by economists polled by Reuters.

The dollar weakened 0.14% to 155.43 against the Japanese yen and was down 0.26% to 0.793 against the Swiss franc .

The euro edged higher after the European Central Bank kept its policy rates steady and took a more positive view on a euro zone economy that has shown resilience to global trade shocks.

The euro was last up 0.12% at $1.1753 against the dollar.

The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.15% to 98.22.
Reporting by Samuel Indyk in London, Rocky Swift in Tokyo, Ankur Banerjee in Singapore Editing by Kate Mayberry, Kirsten Donovan

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