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Dollar extends gains after US inflation data
The US dollar jumped against most of its major rivals on Tuesday, after the release of several corporate business results and upbeat economic data.
The US Q2 cooperate earnings season launched in Wall Street, with major US banks like JP Morgan Chase and Morgan Stanley reporting their results today.
Data showed that the US consumer price index rose by 0.9% in June, the largest monthly rise since 2008, higher than forecasts of 0.5%, and the y/y reading showed a rise by 5.4%.
The core reading (excluding food and fuel prices) rose by 0.9%, higher than forecasts of 0.4%.
The dollar index rose against a basket of major currencies by 0.5% to 92.7 points as of 18:37 GMT, after hitting a high of 92.7 points and a low of 92.1 points.
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