From BigGo Finance · BigGo Finance · · 1m 10s
Euro hits 17-month low as hotter-than-expected U.S. CPI accelerates dollar buying
Hotter-than-expected U.S. CPI pushes euro to 17-month low, sparking dollar buying.
In brief
Hotter-than-expected U.S. CPI pushes euro to 17-month low, sparking dollar buying. The euro fell to its lowest level in 17 months as hotter-than-expected U.S. September CPI data accelerated dollar buying. Originally reported by BigGo Finance.
Euro falls to 17-month low
The euro briefly touched $1.1113, its weakest level since May 2025, in New York trading on the 14th.
U.S. CPI data hotter than expected
U.S. September CPI rose 3.7% year-over-year, exceeding market expectations for a 3.6% annual increase.
Fed rate hike speculation intensifies
The Federal Reserve is expected to raise interest rates sooner than previously anticipated due to hotter inflation data.
Dollar-yen pair fluctuates
Dollar-yen climbed to 158.95 yen before retreating to 158.05 yen as U.S. long-term yields declined.
EUR/JPY declines
EUR/JPY fell to 176.63 yen, down 0.67 yen from the previous session, as risk-averse yen buying emerged.
Crude oil prices rise
Crude oil futures extended gains due to Middle East supply concerns, including Iranian attacks on vessels in the Strait of Hormuz.
What it means
The euro fell to its lowest level in 17 months as hotter-than-expected U.S. September CPI data accelerated dollar buying.
