Dollar rises to 7-month high versus euro

The dollar reached a new seven-month high against the euro Tuesday after official data released early in the session supported Federal Reserve policy makers’ case for raising interest rates in December.

The euro EURUSD, +0.0094%  weakened to $1.0631 shortly after 12 p.m. Eastern Time Tuesday after U.S. data released earlier in the session provided an encouraging reading on consumer inflation that supported a December hike.

Meanwhile, the dollar rose to ¥123.49, its highest level in eight days.

The euro EURUSD, +0.0094% traded at $1.0650 late Tuesday in New York, compared with $1.0686 late Monday. The dollar USDJPY, -0.10% traded at ¥123.38, compared with ¥123.28 late Monday.

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