© Archyde.com. One hundred dollar banknotes in a photo from the Archyde.com archive.
NEW YORK (Archyde.com) – It fell on Tuesday following data showed that U.S. consumer price inflation rose less-than-expected last month, boosting expectations that the U.S. Federal Reserve will cut interest rate hikes at the end of its two-day meeting. Wednesday.
And the dollar fell to its lowest level in six months in front of following the publication of the data. The euro reached $1.0673, its highest level since June, and in the latest transactions recorded a 0.9 percent increase to $1.0631.
It fell to its lowest level in a week at 134.67, and recorded in the latest transactions 135.55 yen, down 1.5 percent.
The dollar index, which measures the currency once morest six major currencies, fell 0.9 percent to 104.02.
The data shows consumer price inflation eased in November year-on-year following the cost of gasoline and used cars fell, bringing annual inflation to its lowest level in nearly a year. In the 12 months through November, the consumer price index rose 7.1%, the smallest rise since December of 2021, following rising 7.7% in October.
Excluding the volatile food and energy components, the consumer price index rose 0.2 percent last month, following rising 0.3 percent in October. On an annual basis, core inflation increased by 6 percent in November following rising 6.3 percent in October.
(Prepared by Marwa Gharib for the Arabic Bulletin – Edited by Mahmoud Salama)