US Dollar retreats after reaching its highest level after labor and inflation data.
US citizens filing new applications for unemployment insurance last week arrived below expectations.
The headline PPI for October came in at 2.4%, higher than expected.
The US Dollar Index (DXY), a measure of the value of the USD against a basket of six currencies, softened after hitting a fresh year-to-date high near 107.00. The Greenback has been on a rise in recent days, but profit-taking and disappointing US economic data have led to a slight retracement. The headline Producer Price Index (PPI) for October came in at 2.4% YoY, above expectations of 2.3%, and the PPI excluding Food and Energy rose to 3.1% YoY, also arriving above forecasts.
Additionally, US citizens filing new applications for unemployment insurance was reported at 217K for the week ending November 9, which came in below expectations of 223K. .
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