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The US dollar is rising against the backdrop of rapid inflation

NEW YORK, April 12 (Xinhua) – The US dollar appreciated on Tuesday, April 12, as data showed that US inflation hit a four-decade high in March.

The dollar index, which measures the dollar against six major partners, rose 0.36 percent to 100.2950.

At the end of the trading session in New York, the euro fell from $ 1.0893 in the previous session to $ 1.0834, and the British pound fell from $ 1.3034 in the previous session to $ 1.3007. The Australian dollar rose from $ 0.7431 to $ 0.7461.

The US dollar bought 125.28 Japanese yen, lower than the previous session 125.45 Japanese yen. The US dollar was up to 0.9320 Swiss francs from 0.9311 Swiss francs, and from 1.2621 Canadian dollars to 1.2634 Canadian dollars.

The US Department of Labor said on Tuesday that the country’s consumer price index, the main measure of inflation, rose 8.5 percent in March from a year earlier, the biggest increase in 12 months since December 1981.

According to experts, the heated inflation report strengthened market expectations that the US Federal Reserve will aggressively raise interest rates during its upcoming political meetings.

The US dollar is rising against the backdrop of rapid inflation

SourceThe US dollar is rising against the backdrop of rapid inflation

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