The U.S. dollar moved down against its major rivals in the European session on Thursday, after a data showed that the nation's consumer prices increased less than expected in October, raising hopes for a slower pace of tightening by the Federal Reserve in the future.
Data from the Labor Department showed that the consumer price index rose by 0.4 percent in October, matching the increase seen in September. Economists had expected consumer prices to climb by 0.6 percent.
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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.