Dollar rallies to highest levels since the nineties against the yen

The dollar rose against most major rivals on Wednesday after strong US inflation data. 

Earlier US government data showed yearly inflation accelerated more than expected in March, which could delay the timeline of interest rate cuts this year. 

US consumer prices rose 3.5% y/y in March, above estimates of 3.4%.

On a monthly basis, consumer prices rose 0.4%, while analysts expected a rise of 0.3%. 

On trading, the dollar index rose 1% to 105.1 as of 19:32 GMT, with a session-high at 105.3, and a low at 104.02. 

Yen

The USD/JPY pair rose 0.8% to 152.9 as of 19:53 GMT. 

The Loonie

The Canadian dollar fell 0.75% against its US counterpart to 0.7312.

The Bank of Canada decided to maintain interest rates unchanged today at 5% as expected.