LONDON/NEW YORK—The dollar rose against major peers on Wednesday, snapping three days of weakness, after U.S. consumer prices surged at their highest rate since 1990 and fuelled fears inflation could prove stickier than Federal Reserve expectations.
The consumer price index rose 0.9 percent last month after gaining 0.4 percent in September and in the 12 months through October, the consumer price index accelerated 6.2 percent, the U.S. Labor Department said on Wednesday, while analysts expected on average the rise to be limited to 5.8 percent.
