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Hong Kong, October 15 (QNA) – The US dollar retreated from an 18-month high on Thursday, as a pullback in Treasury yields and cautious remarks from Federal Reserve officials outweighed hotter-than-expected inflation data, tempering expectations of an interest rate hike this month.
The dollar index, which tracks the greenback against a basket of six major currencies, slipped 0.1% to 102.06. The euro advanced 0.3% to $1.1187, while sterling climbed 0.2% to $1.3224.
US core consumer prices rose 0.3% in September, outpacing market expectations for a 0.2% increase. Annual headline inflation came in at 3.7%, above the 3.6% forecast, underscoring persistent price pressures.
Despite the stronger-than-expected inflation figures, the yield on benchmark 10-year US Treasury notes fell to 5.1267%, its lowest level in three weeks. Investors turned their attention to US producer price and retail sales data due later on Thursday for further clues on the inflation outlook and the Federal Reserve’s policy trajectory. (QNA)
