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U.S. dollar jumps amid hot inflation



NEW YORK, Sept. 13 (Xinhua) — The U.S. dollar soared in late trading on Tuesday, following a hotter-than-expected U.S. inflation report.

The dollar index, which measures the greenback against six major peers, increased 1.37 percent to 109.8150.

In late New York trading, the euro decreased to 0.9979 U.S. dollars from 1.0120 dollars in the previous session, and the British pound was down to 1.1503 U.S. dollars from 1.1679 dollars in the previous session. The Australian dollar decreased to 0.6738 U.S. dollars from 0.6881 dollars.

The U.S. dollar bought 144.37 Japanese yen, higher than 142.74 Japanese yen of the previous session. The U.S. dollar was up to 0.9607 Swiss francs from 0.9540 Swiss francs, and it rose to 1.3154 Canadian dollars from 1.2984 Canadian dollars.

The U.S. Labor Department reported Tuesday that the country’s consumer price index (CPI) rose 0.1 percent in August for an 8.3 percent year-on-year increase. The core CPI, which excludes food and energy, rose 0.6 percent for a 6.3 percent year-on-year increase. The readings were higher than market expectations.

“The August CPI shows the limiting impact of falling gasoline prices on overall inflation, and that price pressures remain high and broad-based,” Will Compernolle, senior economist at FHN Financial, said Tuesday in a note, adding the data cemented another big rate hike by the Federal Reserve.