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EDITOR-IN-CHIEF Paulo Coutinho
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BuzzWorld
Home›Buzz›FOREX: The greenback edges down against yen after uptick in US inflation
The Buzz

FOREX: The greenback edges down against yen after uptick in US inflation

By -
Friday, October 11, 2024
121
0

The U.S. dollar edged lower against the yen yesterday after data showed a higher-than-expected rise in U.S. inflation in September even though prices were on a downward trend, allowing the Federal Reserve to keep cutting interest rates, Reuters economic agency has reported.

Labor Department data yesterday showed that the consumer price index increased 0.2% in September. In the 12 months through September the CPI climbed 2.4%, which was the smallest year-on-year rise since February 2021.

According to Reuters, the greenback was down 0.54% at 148.50 yen after rising to as high as 149.58 yen for the first time since Aug. 2.

The dollar index (=USD), which measures the currency against six key rivals including the yen and euro, was down 0.09% to 102.780 after hitting its highest since August 16.

Meanwhile, U.S. stocks  were edging back from their records yesterday, while Treasury yields spin after a pair of reports showed inflation failed to improve as much as expected last month and more workers filed for unemployment benefits last week.

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Friday, November 13, 2026 – edition no. 5074
Friday, November 13, 2026 – edition no. 5074

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