The dollar softened on Friday after the release of U.S. inflation data that exceeded expectations; this decline was somewhat offset by a rise in weekly jobless claims that also surpassed forecasts.
At approximately 09:25 AM, the American currency fell by 0.11% against the euro, trading at 1.0947 dollars per euro, and similarly decreased against the British pound, reaching 1.3074 dollars per pound.
In September, the year-on-year price increase in the United States slowed to 2.4%, down from 2.5% the previous month, as reported by the Consumer Price Index (CPI) released on Thursday, which was above the anticipated rate of 2.3%.
“Typically, such inflation data would lead investors to adjust their expectations regarding potential interest rate cuts by the Federal Reserve,” noted analysts at Deutsche Bank.
However, they added, “the initial weekly claims for unemployment benefits released concurrently were significantly worse than expected.”
For the week ending October 5, the U.S. recorded 258,000 new unemployment claims, the highest level since August 2023, whereas only 230,000 claims had been forecasted.
