The US dollar fell to its lowest level in almost nine months against the euro today Thursday after US inflation data showed prices were on a sustained downward trend, raising expectations that the Federal Reserve would move in the direction of slowing down the pace of interest rate hikes. .
The data showed that consumer prices unexpectedly fell in December for the first time in more than two and a half years.
The Labor Department said on Thursday that the consumer price index fell 0.1% last month after rising 0.1% in November. This is the first decline in the index since May 2020, when the economy suffered from the effects of the first wave of the Covid-19 pandemic.
Experts polled by Reuters expected the index to remain unchanged.
The dollar hit $1.0845 against the euro, the weakest level against the single European currency since April 25 after the release of the CPI report.
The dollar fell 0.34% against the euro to $1.0796 at 1415 GMT and 0.3% against the pound to $1.2187.
The dollar index fell 0.407% in recent trading to 102.7, its lowest level since June 9.
The dollar also fell 1.75% against the yen in recent deals to 130.2 yen per dollar.
The Australian dollar rose 0.59% to $0.6947 and the New Zealand dollar rose 0.18% to $0.6378.
And the Chinese yuan traded in foreign trades at its highest level in five months, at 6.747 against the dollar, amid optimism that the Chinese economy is on track to recover.
In terms of digital currencies, bitcoin rose for the fifth day in a row, hitting a monthly high of $18,159.
