Dollar Strengthens on US Inflation Data

The US dollar strengthened against several major currencies on September 11 after the release of inflation data. The Labor Department reported that consumer prices increased by 0.4% in August, following a 0.1% rise in July.

In terms of annual growth, consumer inflation rose 3.4% through August, matching its July increase. This news reinforced expectations of an interest rate hike from the Federal Reserve next week.

The dollar initially gained against the euro and Swiss franc but subsequently retreated some of its gains after the data release. As a result, the euro fell by 0.07% to $1.1602, while the dollar strengthened by 0.2% against the Swiss franc to 0.814.