The U.S. dollar climbed higher on Wednesday, recording strong gains against its major counterparts, after data from the Labor Department showed consumer prices in the country rose more than expected in the month of October.The data showed consumer price index jumped by 0.9% in October after rising by 0.4% in September. Economists had expected consumer prices to climb by 0.6%.Excluding higher price...
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.