US dollar declines on soft inflation data

Top Stories

»	49% Indian startups now from tier 2, 3 cities: Jitendra Singh
»	'India ranks 3rd in global startup ecosystem & number of unicorns'
»	Tripura exported over 9K tonnes of pineapples in 2 years
»	CPI inflation eases to 6.71% in July, IIP falls to 12.3%
»	Rupee depreciates 12 paise to close at 79.64 against US dollar

IANS | 15 Dec, 2017
The US dollar fell against most major currencies as the country's soft inflation data continued to weigh on the market.

In late New York trading on Thursday, the euro rose to $1.1799 from $1.1789, and the British pound climbed to $1.3441 from $1.3368, Xinhua news agency reported.

The Australian dollar increased to $0.7676 from $0.7624.

The US dollar bought 112.12 Japanese yen, lower than 112.83 yen of the previous session. The US dollar rose to 0.9871 Swiss franc from 0.9865 Swiss franc, and it edged down to 1.2732 Canadian dollars from 1.2844 Canadian dollars.

The US Labor Department said on Wednesday that the so-called core consumer price index increased 0.1 percent on a seasonally adjusted basis in November from the prior month and 1.7 percent from a year earlier, missing market consensus of a 1.8-percent gain.

Analysts said the soft inflation data dampened investors' hope that the Federal Reserve might raise interest rates in a quicker pace next year.

The dollar index, which measures the greenback against six major peers, was down 0.01 percent at 93.418 in late trading on Thursday.