Dollar Declines After U.S. Inflation Data Despite Rising Oil Prices
The US dollar declined by 0.1 percent against the Japanese yen, reaching 162.08 yen, following the release of US inflation data that was lower than expected. This boosted market expectations that the Federal Reserve will not raise interest rates in the near future. Meanwhile, the US currency also fell against a basket of major currencies, with the euro and the British pound both rising by 0.1 percent. Oil prices remained high due to the military escalation in the Gulf region, leading to increased fears of rising inflationary pressures.
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