US dollar slips amid inflation data

US dollar slips amid inflation data

NEW YORK, March 14 (Xinhua) — The U.S. dollar fell slightly in late trading on Tuesday as market participants digested a key U.S. inflation report.

The dollar index, which measures the greenback against six major peers, fell 0.01 percent to 103.5933.

In late New York trading, the euro rose to US$1.0740 from US$1.0733 in the previous session, and the British pound fell to US$1.2172 from US$1.2198 in the previous session.

The US dollar bought 134.16 Japanese yen, higher than 133.31 Japanese yen from the previous session. The US dollar increased to 0.9132 Swiss francs from 0.9110 Swiss francs, and it eased to 1.3681 Canadian dollars from 1.3727 Canadian dollars. The US dollar fell to SEK 10.4665 from SEK 10.5984.

The U.S. consumer price index (CPI) rose 0.4 percent in February, and the annual rate slowed to 6 percent from 6.4 percent in January, the Labor Department reported on Tuesday. The readings were in line with market expectations.

The core CPI, which excludes food and energy, rose 0.5 percent in February, above the 0.4 percent consensus, for an annual increase of 5.5 percent.

The report continued to show persistent inflation, which is likely to keep the Federal Reserve on track for another rate hike next week despite the current banking scare, experts noted.






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