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The U.S. dollar strengthened against major currencies following the release of August consumer price index data.

The U.S. dollar rose against major global currencies on Friday following the release of labor department data showing a 0.4% increase in the consumer price index for August. This figure followed a 0.1% increase in July.

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Over the 12 months leading up to August, consumer inflation rose by 3.4%, matching the growth seen in July. These figures reinforced expectations that the Federal Reserve will increase interest rates next week. The dollar strengthened against the euro and the Swiss franc before experiencing a slight decline in value immediately after the data was released. The euro was priced at $1.1602, while the dollar rose 0.2% to 0.814 against the Swiss franc.

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