U.S. Dollar Dips Amid Slight Inflation Rise
The U.S. dollar declined following new inflation data indicating a marginal rise in consumer prices for September. The Consumer Price Index increased by 0.3%, slightly lower than expected. Despite these numbers, the Federal Reserve remains poised to reduce interest rates again, with the dollar index decreasing to 98.86.
The U.S. dollar experienced a decline on Friday as new inflation figures showed U.S. consumer prices increasing slightly less than anticipated in September. This development allows the Federal Reserve to progress with plans to cut interest rates next week.
According to the Labor Department's Bureau of Labor Statistics, the Consumer Price Index rose by 0.3% last month, following a 0.4% increase in August. Economists surveyed by Reuters had projected a continued 0.4% increase, with a 3.1% rise year-on-year.
Consequently, the U.S. dollar index fell by 0.078% to 98.86, after experiencing a sharper earlier decline of up to 0.2%.
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