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U.S. inflation boosts dollar vs euro
The dollar's exchange rate rose against the euro following the release of U.S. inflation data, which showed a 0.4% increase in consumer prices in August. This boosted expectations for the Federal Reserve to hike interest rates next week. The data contributed to the dollar strengthening by 0.2% to 0.814 Swiss francs, while the euro slightly declined to $1.1602, with forecasts indicating inflation could rise to 3.4% over the next 12 months until August. This comes amid market anticipation of U.S. interest rate hikes and their impact on major currencies.
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