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U.S. Dollar supported by inflation data

EURUSD News by Newsroom on 11:16 November 13, 2019 EST

The Dollar built on earlier gains Wednesday after inflation figures surprised on the upside for the month of October and as investors grew uneased over White House trade policy in the wake of President Donald Trump's speech to The Economic Club of New York.

U.S. inflation rose 0.4% last month when markets were looking for a 0.3% gain although the beat was marginal as it wasn't able to push the annualised rate any higher the 1.8% envisaged by the consensus and borne out in the official figures. Up from 1.7% last month, the 'headline' rate of inflation is now one step closer to the 2% target of the Federal Reserve (Fed) after having recovered from lows of 1.4% earlier in the year.

EURUSD trades at around 1.10 while stock indices are barely holding close to their highs.