NEW YORK, Sept 11 (Askume) – The dollar rose on Wednesday after data showed inflation in the world’s largest economy rose in August, raising expectations that the Federal Reserve will raise interest rates by 25 basis points later this month.
The dollar index rose 0.1% to 101.79 and the euro fell to $1.1005 against the dollar.
Data showed the Consumer Price Index rose 0.2% last month after rising 0.2% in July. Excluding the volatile food and energy components, the CPI rose 0.2% in August after rising 0.3% in July.
