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2025-07-31 23:51:57
[Dollar rises to two-month high as Fed's preferred inflation gauge exceeds expectations] The dollar rose to a two-month high as the Fed's preferred inflation gauge exceeded expectations and the number of initial jobless claims in the United States fell short of expectations. The core personal consumption expenditures price index rose 2.8% year-on-year in June, above the 2.7% expected by economists in a Wall Street Journal survey. The data for May was revised up to 2.8% from the previous 2.7%. Initial jobless claims rose by 1,000 to 218,000 last week, below the expected 222,000. This followed stronger-than-expected U.S. private sector employment data and second-quarter economic growth data released on Wednesday, which further supported the Fed's view of caution on interest rate cuts. (Dow Jones)
