Dollar Loses Ground After US Inflation Data

Dollar Loses Ground After US Inflation Data
A U.S. one dollar banknote is seen in this illustration taken on Nov. 23, 2021. Murad Sezer/Illustration/Reuters
Reuters
Updated:

The dollar lost some ground on Friday after U.S. consumer prices increased roughly in line with expectations in November as investors, who had been bracing for much higher inflation, bet that the actual number would not change the pace of interest rate hikes.

Labor Department data showed an increasing consumer price index (CPI) as cost of goods and services rose broadly amid supply constraints for the largest annual gain since 1982.