The dollar fell and the euro hit a one-year high against the U.S. currency on Thursday after producer prices fell last month, adding to expectations that the Federal Reserve is nearing the end of its tightening cycle.
Wholesale prices fell 0.5% in March and core prices dipped 0.1%.
Other data showed that the number of Americans filing new claims for unemployment benefits increased more than expected last week, a further sign that labor market conditions were loosening up as higher borrowing costs dampen demand in the economy.
The euro reached $1.10470, the highest since April 4, 2022, and was last at $1.1032, up 0.32% on the day. The dollar index fell to 101.10, the lowest since April 2.
