Dollar weakens after data shows U.S. inflation moderating

Economy

14-11-2023, 21:19

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INA - SOURCES

The dollar fell more than 1% against major currencies on Tuesday, after U.S. consumer price data showed the pace of inflation moderating in October.

The dollar index, a measure of the U.S. currency against six peers, slid 1.30% to 104.240, on track to its biggest single-day percentage decline since Nov. 11, 2022.

The U.S. currency was also poised for its largest declines since November 2022 against the euro and British pound.

The dollar slid 1.5% against the euro to $1.086, slumped 1.63% against the British pound to $1.248 and slipped 1.24% against the Swiss franc to 0.890.