NEW YORK, Nov. 10 (Xinhua) — The U.S. dollar fell sharply in late trade Thursday after data showed signs of improvement in inflation in the U.S. consumer price index (CPI) in October.
The dollar index, which measures the dollar against six major peers, lost 2.12 percent to 108.2040.
In late New York trading, the euro rose to US$1.0183 from US$1.0005 in the previous session, and the British pound rose to US$1.1696 from US$1.1344 in the previous session.
The US dollar bought 141.84 Japanese yen, down from 146.64 Japanese yen from the previous session. The US dollar fell to 0.9666 Swiss francs from 0.9857 Swiss francs, and it was down to 1.3352 Canadian dollars from 1.3534 Canadian dollars. The US dollar fell to SEK 10.6139 from SEK 10.8935.
The US Labor Department reported on Thursday that the country’s CPI rose 0.4 percent in October, below the 0.6 percent consensus, for a 7.7 percent increase from a year earlier. The core CPI, which excludes food and energy, rose 0.3 percent, also below the consensus estimate, for a 6.3 percent increase from a year earlier.
The softer-than-expected October CPI report fueled market expectations for a less hawkish Federal Reserve, experts noted.