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Thursday, July 11, 2024
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HomeEconomyDollar drops as consumer prices fall in June

Dollar drops as consumer prices fall in June

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(Reuters) - The dollar dropped on Thursday after data showed that headline consumer prices unexpectedly fell in June, which may make it more likely that the Federal Reserve will begin cutting interest rates in the coming months.

The dollar index was last down 0.42% at 104.51, and got as low as 104.38, the lowest since June 12. The euro reached $1.08935, the highest since June 7.

Against the yen, the dollar weakened 0.49% to 160.88.

(Reporting By Karen Brettell; Editing by Toby Chopra)

Disclaimer: This report is auto generated from the Reuters news service. INDIANEXPOSE holds no responsibilty for its content.

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