Dollar Falls Despite Inflation Gains

The US dollar retreated from its 18-month high despite the US inflation rate rising to 3.7% in September, surpassing the expectations of 3.6%. This decline was driven by cautious remarks from Federal Reserve officials and a drop in Treasury bond yields, prompting investors to reduce their expectations for future interest rate hikes. Nevertheless, the euro and the British pound strengthened against the dollar, while the dollar index fell slightly. Other currencies such as the Australian dollar, New Zealand dollar, Japanese yen, and the Chinese yuan were also affected by changes in economic data and inflation.

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