Dollar Jumps, Euro Dumps After US Consumer Prices Surge

The dollar surged to a 20-year high against a basket of currencies and the euro neared parity against the U.S. currency after data on Wednesday showed that U.S. consumer prices rose more than expected in June, hitting a 40-1/2-year high.

The consumer price index increased 1.3% last month as gasoline and food costs remained elevated, more than the 1.1% expected by economists polled by Reuters.

The dollar index reached 108.57, the highest since Oct. 2002, from around 107.9 before the data released.

The euro plunged to $1.00010 against the greenback, just above a 20-year low of $1.00005 reached on Tuesday.

========================================================

Currency bid prices at 8:44AM (1244 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Dollar index 108.5100 108.2000 +0.31% 13.429% +108.5800 +107.7800

Euro/Dollar $1.0004 $1.0036 -0.30% -11.98% +$1.0109 +$1.0001

Dollar/Yen 137.6800 136.8750 +0.58% +19.59% +137.7100 +136.6900

Euro/Yen 137.73 137.37 +0.26% +5.69% +138.1700 +137.1300

Dollar/Swiss 0.9807 0.9821 -0.17% +7.49% +0.9829 +0.9752

Sterling/Dollar $1.1837 $1.1885 -0.35% -12.43% +$1.1942 +$1.1828

Dollar/Canadian 1.3055 1.3021 +0.26% +3.25% +1.3060 +1.2979

Aussie/Dollar $0.6731 $0.6757 -0.33% -7.35% +$0.6803 +$0.6726

Euro/Swiss 0.9810 0.9854 -0.45% -5.39% +0.9864 +0.9809

Euro/Sterling 0.8450 0.8438 +0.14% +0.60% +0.8455 +0.8404

NZ $0.6085 $0.6127 -0.62% -11.04% +$0.6158 +$0.6084

Dollar/Dollar

Dollar/Norway 10.2725 10.2520 +0.21% +16.62% +10.2775 +10.1740

Euro/Norway 10.2795 10.2876 -0.08% +2.66% +10.3055 +10.2413

Dollar/Sweden 10.6180 10.5637 +0.11% +17.74% +10.6225 +10.5078

Euro/Sweden 10.6227 10.6110 +0.11% +3.80% +10.6326 +10.5979

(Editing by Andrew Heavens)