U.S. Dollar Stronger on CPI

The U.S. dollar extended broad-based gains on Wednesday after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro.

A slight uptick in September U.S. CPI data, a 0.1 percent rise versus a mean forecast of no change, helped push U.S. Treasury yields up, supporting the greenback.

Spanish news agency EFE, citing unnamed financial sources, said 11 euro zone banks were set to fail this weekend’s long-awaited stress tests. That followed a Reuters report on Tuesday that the European Central Bank was looking at buying corporate bonds to boost euro liquidity.

CNBC

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