Dollar Rises On Inflation Concerns

The dollar edged up against the Euro today on stronger than expected Consumer Price Index data. The data showed that there have been higher than expected gains in consumer prices and consumer spending. The Euro fell about 1.5% through this afternoon based on the report today and other economic reports that were released this week. It's likely the major news outlets will shift from "are we headed towards a recession" headlines to "is inflation on the move." Either way it doesn't look like another fed rate cut is too promising.

Read more about the CPI data at Reuters.