The U.S. dollar gained ground against its most major counterparts in the European session on Thursday, as the nation's consumer prices increased more than expected in September, intensifying expectations for another 75-basis point rate hike by the Federal Reserve in November.
Data from the Labor Department showed that the consumer price index rose by 0.4 percent in September after inching up by 0.1 percent in August. Economists had expected consumer prices to edge up by 0.2 percent.
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Forex News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.