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Dollar retreats from 18-month high despite hot CPI as Fed officials temper hike bets
HONG KONG: The dollar slipped from an 18-month peak on Thursday despite hotter-than-expected inflation data, as cautious remarks from Federal Reserve officials and a pullback in Treasury yields led traders to scale back expectations of an October rate hike. Against the dollar, the euro bounced 0.3% from an 18-month low to trade at $1.1187. Sterling strengthened 0.2% to $1.3224, recovering from a 13-month low. The dollar index , which measures the US currency against a basket of peers, was down 0.1% at 102.06. It has given back most of the gains it made after Wednesday’s hot inflation readin...
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