off-the-wire

Dollar edges higher against euro after U.S. inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters
Dollar edges higher against euro after U.S. inflation data teaser image

NEW YORK, Sept 11 (Reuters) - The U.S. dollar edged higher ‌against major peers on Friday after closely watched inflation data ​showing higher consumer prices ​reinforced expectations of a Federal ⁠Reserve interest rate increase ​next week.

Labor Department data showed ​that the U.S. consumer price index increased 0.4% in August after edging up 0.1% ​in July. In the ​12 months through August, consumer inflation ‌advanced ⁠3.4% after rising by the same margin in July.

The dollar rose broadly against the ​euro and ​Swiss ⁠franc before giving back some of those ​gains immediately after the ​data.

The ⁠euro was down 0.07% at $1.1602. The dollar strengthened 0.2% ⁠to ​0.814 against the ​Swiss franc.

Reporting by Chibuike Oguh in New ​York; Editing by Chizu Nomiyama

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.