MARKET NEWS
Dollar higher after CPI; China considers letting yuan weaken - REUTERS
- Reuters reports China considering allowing yuan to weaken
- Fed rate cut next week looks almost certain after US price data
- Japanese inflation supports expectations of Dec BOJ rate hike
- Canadian dollar at 4-1/2-year low with BOC set to slash rates
NEW YORK, Dec 11 (Reuters) - The dollar was higher on Wednesday after U.S. price data came in line with forecasts, reinforcing expectations the U.S. Federal Reserve will cut interest rates next week.
The dollar was also boosted by a Reuters report China was considering allowing a weaker currency next year, which sent the yuan and other Asian currencies lower.
The consumer price index rose 0.3% last month, the largest gain since April after advancing 0.2% for four straight months, data showed on Wednesday. Economists polled by Reuters had forecast the index would rise 0.3%.
