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FOREX-Dollar falls versus euro as CPI rises slightly

Wed May 14, 2008 8:41am EDT

NEW YORK, May 14 (Reuters) - The dollar erased gains versus the euro on Wednesday after a report showed that U.S. consumer prices rose by a smaller-than-expected margin in April.

Currencies  |  Global Markets

The euro was last up 0.1 percent at $1.5477 EUR=, compared with $1.5435 before the report. The dollar was up 0.4 percent at 105.17 yen JPY=, versus 105.27 yen earlier.

U.S. consumer prices rose 0.2 percent in April, less than the 0.3 percent gain Wall Street analysts polled by Reuters were expecting after a 0.3 percent advance in March.

So-called core prices, which exclude volatile food and energy, were up just 0.1 percent, half the increase analysts had forecast.

(Reporting by Lucia Mutikani; Editing by Theodore d'Afflisio)

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