Dollar edges down against yen after uptick in U.S. inflation
New throughout, updates prices after U.S. inflation report
By Chibuike Oguh
NEW YORK, Oct 10 (Reuters) -The U.S. dollar edged lower againstthe yen on Thursday after data showed a higher-than-expected rise in U.S. inflation in September even though prices were on a downward trend, allowing the Federal Reserve to keep cutting interest rates.
Labor Department data on Thursday showed that the consumer price index increased 0.2% in September. In the 12 months through September the CPI climbed 2.4%, which was the smallest year-on-year rise since February 2021.
The greenback was down 0.54% at 148.50 yen after rising to as high as 149.58 yen for the first time since Aug. 2.
The dollar index =USD, which measures the currency against six key rivals including the yen and euro, was down 0.09% to 102.780 after hitting its highest since August 16.
World FX rates https://tmsnrt.rs/2RBWI5E
Reporting by Chibuike Oguh in New York; Editing by Chizu Nomiyama
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