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U.S. Dollar Falls as Weak CPI Data Increases Chance of Fed Cut


Thursday, 10 October 2019 23:58 WIB

DOLLAR Indeks DolarDolar AS


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The U.S. dollar fell on Thursday after consumer prices rose less than expected in September, increasing the chances of the Federal Reserve cutting rates before the end of the year.

Used-car sales fell by the most in a year, as the core consumer price index rose by just 0.1% from the prior month, according to the Labor Department. The broader CPI was unchanged and p 1.7% on an annual basis.

Meanwhile jobless numbers released Thursday suggest that the labor market remains strong, which could complicate a decision from the Fed. The number of Americans filing for unemployment fell and the unemployment rate remains near a 50-year low of 3.5%.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.4% to 98.73 as of 12:00 PM ET (16:00 GMT).

Source : Investing.com


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