October 15, 2015 / 12:20 AM / 2 years ago

Dollar gains on above-forecast core inflation data

NEW YORK (Reuters) - The dollar strengthened against a basket of currencies on Thursday as a stronger-than-expected 0.2 percent rise in core U.S. consumer prices in September revived bets domestic inflation is edging closer to the Federal Reserve’s 2 percent target.

An employee of a money changer holds a stack of U.S. Dollar notes before giving it to a customer in Jakarta, October 8, 2015. REUTERS/Beawiharta

Last month’s pickup in underlying inflation trend may tip Fed policy-makers to end the central bank’s near zero interest rate policy later this year.

The dollar index .DXY was last up 0.6 percent at 94.493after hitting a seven-week low of 93.806 earlier Thursday.

Reporting by Richard Leong

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