The dollar reached a new seven-month high against the euro Tuesday after official data released early in the session supported Federal Reserve policy makers’ case for raising interest rates in December.The euro EURUSD, -0.0846% weakened to $1.0631 shortly after 12 p.m. Eastern Time Tuesday after U.S. data released earlier in the session provided an encouraging reading on consumer inflation that supported a December hike.
Meanwhile, the dollar rose to ¥123.49, its highest level in eight days.
The euro EURUSD, -0.0846% traded at $1.0650 late Tuesday in New York, compared with $1.0686 late Monday. The dollar USDJPY, -0.02% traded at ¥123.38, compared with ¥123.28 late Monday.
In other currency trading, the British pound GBPUSD,
-0.1052% traded slightly higher against the buck, rising to $1.5210, from $1.5199 Monday.
The ICE U.S. Dollar Index DXY, +0.07% a measure of the dollar’s strength against a basket of six rival currencies, was at 99.62, up 0.2% from its Monday level.
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