WSJ: Dollar Firms Modestly After CPI, Manufacturing Data
NEW YORK (Dow Jones)--The dollar firmed modestly after the release of U.S. inflation and manufacturing data. CPI headline inflation checked in at 0.1% during November, with core data also running at 0.1%, in line with expectations. NY manufacturing activity surged in December, with the Empire State's business index jumping to 10.57, well above economists' forecasts.
The euro is trading at $1.3354, down slightly from $1.3359 just before the data. The dollar is changing hands around Y83.84. Analysts say that with core inflation running at or near historical lows, the Federal Reserve appears free to continue its plans to keep interest rates low for an extended period.
