The dollar fell on Thursday after data showed US consumer prices rose modestly last month, reinforcing expectations the Federal Reserve will pause interest rate hikes at the next policy meeting.
The dollar fell on Thursday after data showed US consumer prices rose modestly last month, while initial jobless claims gained in the latest week, reinforcing expectations the Federal Reserve will pause interest rate hikes at the next policy meeting.
The consumer price index (CPI) rose 0.2% last month, matching the gain in June, the Labour Department said on Thursday.
The CPI climbed 3.2% in the 12 months through July, up from a 3.0% rise in June, which was the smallest year-on-year gain since March 2021. Excluding the volatile food and energy categories, the CPI gained 0.2% in July, the same as the increase in June. In the 12 months through July, core CPI grew 4.7% after rising 4.8% in June.
«Despite the annualised headline CPI rate re-accelerating slightly in July, the gentle 0.
