The U.S. dollar spiked higher against its major counterparts in the European session on Friday, as the nations's consumer inflation accelerated more than expected in May, intensifying the prospects of aggressive policy tightening by the Federal Reserve beyond July.
Data from the Labor Department showed that the consumer price index jumped by 1.0 percent in May after rising by 0.3 percent in April. Economists had expected consumer prices to increase by 0.7 percent.
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