Dollar Gains Ground Amid Higher US Inflation
The US dollar rose against major peers on Friday after inflation data showed higher consumer prices.
Labor Department data revealed that the US Consumer Price Index increased 0.4% in August, following a 0.1% rise in July.
The CPI advanced by 3.4% over the past 12 months, matching July's increase.
The dollar strengthened against the euro and Swiss franc before relinquishing some gains immediately after the data release.