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Dollar gains after U.S. hot CPI print

Economy34 minutes ago (Feb 10, 2022 13:45)

2/2 © Reuters. FILE PHOTO: A Euro banknote is seen placed on U.S. Dollar banknotes in this illustration taken, November 28, 2021. REUTERS/Dado Ruvic/Illustration 2/2

NEW YORK (Reuters) -The dollar rose after a reading of U.S. consumer prices on Thursday came in higher than expected, pushing the greenback up as the data suggested the Federal Reserve could be more aggressive in fighting rising inflation.

The dollar index, a gauge of the U.S. currency’s value against six major currencies, rose 0.23%.

Against the euro, the European common currency fell 0.18% to $1.1401.

The consumer price index rose 0.6% for January, one-tenth of a percentage point higher than expected, while year-over-year CPI rose 7.5%, or two-tenths more than economists polled by Reuters had expected.

Dollar gains after U.S. hot CPI print

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