Xinhua
13 Jan 2022, 02:14 GMT+10
NEW YORK, Jan. 12 (Xinhua) -- The U.S. dollar dipped in late trading on Wednesday as market participants parsed the newly-released inflation readings.
The dollar index, which measures the greenback against six major peers, decreased 0.74 percent at 94.9201.
In late New York trading, the euro rose to 1.1448 U.S. dollars from 1.1366 dollars in the previous session, and the British pound was up to 1.3711 dollars from 1.3627 U.S. dollars in the previous session. The Australian dollar was up to 0.7290 U.S. dollar from 0.7208 dollar.
The U.S. dollar bought 114.40 Japanese yen, lower than 115.36 Japanese yen of the previous session. The U.S. dollar was down to 0.9135 Swiss franc from 0.9237 Swiss franc, and it fell to 1.2501 Canadian dollars from 1.2581 Canadian dollars.
The above market reactions came after the U.S. Labor Department reported Wednesday that U.S. consumer prices in December continued to rise at the fastest annual pace in almost 40 years.
The consumer price index (CPI) last month rose 0.5 percent from the previous month and 7.0 percent from a year earlier, the largest 12-month increase since June 1982, according to the Bureau of Labor Statistics of the department.
The so-called core CPI, which excludes food and energy, rose 0.6 percent for a 5.5 percent year-on-year increase, the report showed.
The inflation data came one day after U.S. Federal Reserve Chair Jerome Powell said that the central bank will have to raise interest rates more if inflation remains elevated.
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