New York - Saba:
The US dollar fell on Thursday after weaker-than-expected US inflation data for May, increasing expectations that the Federal Reserve may cut interest rates sooner than expected.
In contrast, the euro rose to its highest level since October 2021, while safe-haven currencies such as the Japanese yen and the Swiss franc benefited from escalating geopolitical tensions in the Middle East.
The dollar fell more than 1% to 0.8114 Swiss francs, after reaching 0.8104, its lowest level since April 22.
The dollar also fell 0.7% to 143.59 Japanese yen, after touching a one-week low.
The euro, on the other hand, rose to $1.1632, its highest level since October 2021, and was last trading at $1.1576, up 0.8%.
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