The monthly report published by the U.S. Bureau of Labor Statistics revealed that inflation, as measured by the Consumer Price Index (CPI), in June fell to 1.6% on a yearly basis from 1.8% in May and matched analysts estimates. The core CPI, which excludes volatile food and energy prices, ticked up to 2.1% in the same period to beat the market expectation of 2%.
With the initial market reaction, the US Dollar Index rebounded from daily lows and was last down 0.12% on the day at 96.95.
On a monthly basis, the CPI and the core CPI rose 0.1% and 0.3%, respectively, with both readings coming in higher than the market consensus.
Meanwhile, other data from the U.S. showed that initial weekly jobless claims dropped to 209,000 in the week ending July 5 from 222,000.
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