Dollar drops after US inflation data, jobless claims
The dollar fell on Thursday after data showed U.S. consumer prices rose moderately last month, while initial jobless claims gained in the latest week, reinforcing expectations the Federal Reserve will not raise interest rates at the next policy meeting.

The consumer price index (CPI) rose 0.2% last month, matching the gain in June, the Labor Department said on Thursday. The CPI climbed 3.2% in the 12 months through July, up from a 3.0% rise in June, which was the smallest year-on-year gain since March 2021.
Excluding the volatile food and energy categories, the CPI gained 0.2% in July, the same as the increase in June. In the 12 months through July, the core CPI grew 4.7% after rising 4.8% in June.
"Markets are doubling down on 'soft landing' bets this morning after U.S. consumer inflation slowed as expected, reducing the need for further monetary tightening from the Federal Reserve," wrote Karl Schamotta, chief market strategist, at Corpay, in a research note after the data.
A separate report from the Labor Department on Thursday showed initial claims for state unemployment benefits increased 21,000 to a seasonally adjusted 248,000 for the week ended Aug. 5. Economists had forecast 230,000 claims for the latest week.
The dollar index was last down 0.5% at 102.01, while the euro rose 0.6 to $1.1040 .
Most Read News
-
Israel arrests over 100 Palestinians in occupied West Ba
-
Trump says China 'panicked' with retaliatory tariff deci
-
Germany criticizes Israel’s airstrikes on Syrian territo
-
Myanmar identifies 180,000 Rohingya in Bangladesh as 'el
-
US not interested in 'negotiations about negotiations' o
-
Search and rescue efforts continue 7 days after deadly M
-
Gaza death toll passes 50,600 as Israeli army kills 86 m
-
China hits back at US with 34% tariffs, lawsuit in escal