Market News
Dollar higher on fresh inflation data, euro lower after ECB rate cut - REUTERS
By Hannah Lang
- Dollar higher after producer prices rose more than expected
- Euro down ECB cuts rates, leaves door open to more easing
- Swiss franc slides after SNB 50 bp cut
NEW YORK, Dec 12 (Reuters) - The U.S. dollar rose on Thursday after a hotter than expected inflation readout while the euro traded a touch lower following the European Central Bank's decision to cut interest rates for the fourth time this year.
A Labor Department report on Thursday showed producer prices rose 0.4% on a monthly basis in November, compared with estimates of a 0.2% rise as per economists polled by Reuters.
The dollar index , which measures the currency against a basket of six others, was last up 0.375% at 106.95, a day after a separate U.S. inflation reading cemented bets for a rate cut from the Federal Reserve next week.
