The U.S. dollar edged higher on Friday, extending its gains from the previous session when hot U.S. consumer prices data reinforced expectations that the Federal Reserve may have to keep interest rates higher for longer to tame inflation. The consumer price index (CPI) rose 0.4% in September, keeping the annual rate at 3.7%, the same as in August, while economists polled by Reuters had forecast it would gain 0.3% on the month and 3.6% year-on-year. "Traders didn't really believe in the hot PPI for September until CPI yesterday reinforced it," Helen Given, FX Trader at Monex USA, said.
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