Diverging Inflation Ends Worst Dollar Run Versus Euro in a Month
- Core consumer prices advance more than forecast in U.S.
- ECB's Nowotny says bank `clearly missing' its price targets
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With below-target inflation stalking developed economies, a few tenths of a percentage point here or there are making all the difference to foreign-exchange traders.
The dollar rose for the first time in six days versus the euro, curtailing its worst streak in a month, as a gauge of U.S. core consumer prices advanced more than projected in September. The common currency tumbled against most of its major counterparts as the European Central Bank’s Ewald Nowotny said the institution is “clearly missing” its inflation goal before a report due Friday.