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The dollar fell to a near two-week low on Thursday against a basket of currencies as traders pared greenback holdings on lower U.S. Treasury yields and further losses on Wall Street.
A weaker-than-forecast rise in U.S. consumer prices in September also reduced bets for a faster pace of interest rate increases by the Federal Reserve, further eroding the dollar's appeal.
The euro climbed to a one-week peak against the dollar as minutes of the European Central Bank's policy meeting last month suggested policy-makers have not abandoned their plan to end the ECB's 2.6 trillion-euro bond-purchase program this year.
The Swedish crown jumped following stronger-than-expected inflation and home price data, raising prospects for the Riksbank to increase interest rates in December, analysts said.
The Chinese yuan rose in offshore trading, rebounding from early weakness due to a global equity rout. Traders brushed off comments from U.S. President Donald Trump signaling he is not backing off on escalating his trade war with Beijing.
"Yields have pulled back and you have softer inflation data. This puts a question on the number of Fed rate hikes in 2019," said Minh Trang, senior FX trader at Silicon Valley Bank in Santa Clara, California.
The U.S. Labor Department said on Thursday its consumer price index rose 0.1 percent in September, less than the 0.2 percent increase forecast among analysts polled by Reuters.
The CPI miss reduced bets U.S. inflation is accelerating, spurring appetite for U.S. government bonds. This added to the safe-haven bid for Treasuries stemming from a dramatic sell-off in overseas stock markets that followed big losses in the S&P 500 and Dow Jones indexes on Wednesday.
An index that tracks the dollar versus six currencies fell to 94.987, the lowest since Sept. 28. The dollar index was down 0.5 percent at 95.03. The benchmark 10-year U.S. Treasury note yield fell to a one-week low.
It reached a seven-year peak at 3.261 percent on Tuesday. Forecasts from Fed officials released last month showed they expected three rate hikes in 2019, and some have said they are open to a rate increase in December, which would be the fourth this year.
Their counterparts at the ECB seemed on track, based on the latest minutes, to normalize their ultra-loose policy this year despite concerns about slowing growth in Europe. The euro zone common currency was up 0.56 percent at $1.1589 after touching a one-week high. It was 0.45 percent higher at 129.91 yen.