The U.S. dollar turned weak against its major counterparts on Thursday after data showed consumer prices in the U.S. rose less than expected in October, raising hopes the Federal Reserve will slow the pace of monetary tightening in the coming months.
Data from the Labor Department showed the consumer price index rose by 0.4% in October, less than expected increase of 0.6%. The annual rate of growth in consumer prices also slowed to 7.7% in October from 8.2% in September.
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