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Dollar jumps after U.S. CPI data shows rising inflation

Published 12/05/2021, 13:45
Updated 12/05/2021, 13:48
© Reuters.

NEW YORK, May 12 (Reuters) - The U.S. dollar rose on
Wednesday morning after inflation data showed a surge in
consumer priced in April. The dollar index =USD , which measures the U.S. currency
against a basket of rivals, was last up 0.36% on the day to
90.531, reversing a move lower earlier this week. The dollar had
fallen ahead of the consumer price index data on expectations
that the Federal Reserve would keep interest rates anchored and
would continue purchasing assets regardless of the outlook on
inflation.
The euro EUR=EBS dropped on the stronger dollar, last down
0.33% to $1.211. The single currency on Tuesday had hit a 2-1/2
month high. The Japanese yen JPY=D3 was 0.46% weaker on the
day at 109.130 and the British pound GBP=D3 was modestly
weaker, down 0.18% to $1.412.

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