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U.S. dollar rises ahead of key inflation data

NEW YORK
2022-10-11 04:35

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NEW YORK, Oct. 10 (Xinhua) -- The U.S. dollar appreciated in late trading on Monday as market participants awaited a key U.S. inflation report.

The dollar index, which measures the greenback against six major peers, rose 0.31 percent to 113.1450.

In late New York trading, the euro decreased to 0.9706 U.S. dollars from 0.9737 dollars in the previous session, and the British pound was down to 1.1058 U.S. dollars from 1.1076 dollars in the previous session. The Australian dollar fell to 0.6298 U.S. dollars from 0.6369 U.S. dollars.

The U.S. dollar bought 145.67 Japanese yen, higher than 145.34 Japanese yen of the previous session. The U.S. dollar increased to 0.9994 Swiss francs from 0.9949 Swiss francs, and it rose to 1.3758 Canadian dollars from 1.3725 Canadian dollars.

Traders are looking to the September U.S. consumer price index due on Thursday, for the latest indication on what the inflation picture looks like.

The U.S. payrolls report for September released last week showed the labor market remains tight, supporting the case for the Federal Reserve to continue tightening policy aggressively.
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