Dollar gains versus euro post-inflation

The value of the dollar rose against the euro following the release of US inflation data, which showed the Consumer Price Index increased by 0.4% in August, reinforcing expectations of the Federal Reserve (the US central bank) raising interest rates next week. Although the dollar gained 0.2% against the euro to reach $1.1602, the euro slightly declined by 0.07%. Additionally, the dollar strengthened against the Swiss franc after the data. The rise in inflation suggests the likelihood of continued tightening of US monetary policy, with the annual inflation rate increasing to 3.4%.

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