NEW YORK — The US dollar fell sharply in late trading on Thursday after data showing signs of inflation improvement in October US consumer price index (CPI), reported Xinhua.
The dollar index, which measures the greenback against six major peers, shed 2.12 per cent to 108.2040.
In late New York trading, the euro rose to US$1.0183 from US$1.0005 in the previous session, and the British pound increased to US$1.1696 from US$1.1344 in the previous session.
The US dollar bought 141.84 Japanese yen, lower than the 146.64 Japanese yen of the previous session. The US dollar fell to 0.9666 Swiss francs from 0.9857 Swiss francs, and it was down to 1.3352 Canadian dollars from 1.3534 Canadian dollars. The US dollar decreased to 10.6139 Swedish Kronor from 10.8935 Swedish Kronor.
The US Labour Department reported Thursday that the country’s CPI rose 0.4 per cent in October, below the 0.6 per cent consensus, for a 7.7 per cent year-on-year increase. The core CPI, which excludes food and energy, rose 0.3 per cent, also below the consensus estimate, for a 6.3 per cent year-on-year increase.
The softer-than-expected October CPI report fuelled market expectations for a less hawkish Federal Reserve, experts noted.
In Chicago, gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as the US October inflation data is smaller than expected.
The most active gold contract for December delivery rose US$40, or 2.33 per cent, to close at US$1,753.7 per ounce.
Gold closed at the highest finish since Aug 25.
Gold found additional support as the US Labour Department reported Thursday that US initial jobless claims rose 7,000 to 225,000 in the week ending Nov. 5.
Silver for December delivery rose 37.5 cents, or 1.76 per cent, to close at US$21.702 per ounce. Platinum for January delivery rose US$57.7, or 5.79 per cent, to close at US$1,055 per ounce.
— BERNAMA
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