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U.S. dollar plunges to 2-month low after October inflation report
The U.S. dollar suffered substantial losses on Tuesday after the release of cooling U.S. inflation data for October, reinforcing expectations the Federal Reserve is likely done with raising interest rates. The dollar index, which measures the greenback against six major peers, dropped 1.50 percent to 104.0610 in late trading, hitting its lowest level since early September. According to data released by the Bureau of Labor Statistics on Tuesday, the consumer price index (CPI) in October were flat from the previous month and rose 3.2 percent over the prior year. Excluding volatile food and energy prices, the core CPI ... (full story)