September 14, 2017 / 1:12 PM / a year ago

FOREX-Dollar holds losses after U.S. consumer prices data

NEW YORK, Sept 14 (Reuters) - The dollar was little changed against a basket of currencies on Thursday, after data showed U.S. consumer prices accelerated in August.

U.S. consumer prices rose in August amid a jump in the cost of gasoline and rents, signs of firming inflation that could allow further monetary policy tightening from the Federal Reserve this year.

The Labor Department said its Consumer Price Index rose 0.4 percent last month after edging up 0.1 percent in July. August’s gain was the largest in seven months and lifted the year-on-year increase in the CPI to 1.9 percent from 1.7 percent in July.

The dollar index, which tracks the greenback against six major currencies, was down 0.26 percent at 92.281.

The index briefly climbed as high as 92.661 after the data but soon gave up gains to trade little changed from just before the release of the data. (Reporting by Saqib Iqbal Ahmed; Editing by Chizu Nomiyama)

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