*DOLLAR FALLS TO NEARLY 9-MONTH LOW VS. EURO AFTER U.S. INFLATION DATA - $USD 🇺🇸 $EUR 🇪🇺
NEW YORK - The U.S. dollar tumbled to a nearly 9-month low against the euro on Thursday after U.S. inflation data indicated prices were on a sustained downward trend, lifting expectations that the Federal Reserve will be less aggressive going forward with rate hikes.
"Three months of relatively lighter core inflation figures are starting to form a trend ... one that could spur the Fed to slow the pace of tightening further on February 1," said Sal Guatieri, senior economist at BMO Capital Markets. "Our expectations are for another 125 basis points of rate hikes from the ECB and stay there until 2024," ING's Turner said.
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