US dollar retreats on weak inflation figures

FT/Jessica Dye/08-11-17

The US dollar has taken a hit after US consumer price growth failed to heat up as hoped in July.

The dollar index, which measures the buck against a basket of peers, made a hasty retreat as the latest figures showed consumer inflation undershooting analysts’ targets. At pixel time, it was down 0.4 per cent on the day to 93.03.

The latest in a string of underwhelming readings has fueled market concerns about how the Federal Reserve will react as it debates the path of future interest rate rises.

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