14 April 2004, 16:53  Euro falls to session lows as US March CPI rises

The euro fell to session lows against the dollar on Wednesday after bigger than expected rise in U.S. consumer prices in March, fueling expectations for an increase in U.S. interest rates, a plus for the dollar. The euro traded to a low around $1.1879 , a loss of 0.50 percent compared to the previous New York close, according to data. The March U.S. consumer price index rose 0.5 percent vs. estimates for an increase of 0.3 percent, while the so-called core rate of inflation, excluding food and energy, climbed 0.4 percent versus estimates for an increase of 0.2 percent. If U.S. benchmark interest rates rise, the dollar would benefit from global investors searching for higher yielding assets, such as risk-free U.S. government bonds.|||

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