The dollar held firm on Friday after stronger-than-expected U.S. consumer inflation revived prospects that the Federal Reserve will have to keep rates higher for longer.
Meanwhile, the yuan and the Australian and New Zealand dollars weathered a bout of weak consumer and producer price data out of China, as trade numbers declining at a slower pace offered some hope of stabilisation.
The dollar received support after data showed on Thursday that U.S. consumer prices were pushed higher by a jump in rental costs in September. Although a steady moderation in underlying inflation pressures buoyed expectations that the Fed would not hike interest rates next month, the data did raise the chance of rates staying elevated for some time.
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