Tame inflation weighs on the dollar
Consumer price growth accelerated by slightly less than expected in the United States last month, helping lower short-term yields and putting downward pressure on the dollar. According to data published by the Bureau of Labor Statistics this morning, the core consumer price index—with highly-volatile food and energy prices excluded—rose 0.2 percent in December from the prior month, and was up 2.6 percent over the same period a year prior. This narrowly missed consensus estimates among economists polled by the major data providers ahead of the release. On a headline all-items basis, prices climbed 0.3 percent month-over-month, and were up 2.7...