The dollar fell and the euro recorded its highest level in a year against the US currency, after the producer price index fell last month, which reinforced expectations that the Federal Reserve (the US central bank) is close to ending its monetary tightening policy.
Wholesale prices fell 0.5 percent in March, while basic commodity prices fell 0.1 percent.
Other data showed that the number of Americans filing new applications for unemployment benefits rose more-than-expected last week, in another sign of declining labor market strength amid higher borrowing costs denting demand in the economy.
The euro rose to $1.10470, the highest level since April 4, 2022, before losing some of its gains and falling to 1.1032 in the latest transactions, recording a daily increase of 0.32 percent.