Market Starts to Stall? US Dollar Soars After CPI Data!

<p>&nbsp;The US dollar surged against the euro and yen on Thursday after data showed that consumer price inflation came in above economists' expectations in December.</p><p><br /></p><p>The main Consumer Price Index rose 0.3% last month, for annual growth of 3.4%. While expectations were 0.2% and 3.2% respectively.</p><p><br /></p><p><br /></p><p>The US dollar index which measures the US dollar against six major currencies finally traded up 0.35% on the day to trade at 102,460. It was trading around 102.20 before the data was announced.</p><p><br /></p><p>In a separate report on Thursday, the Labor Department said preliminary claims data for state jobless benefits fell 1,000 to a seasonally adjusted 202,000 for the week ended January 6. Economists had forecast 210,000 claims for the latest week.</p><p><br /></p><p>Claims data tends to be volatile at the beginning of the year. The number of people receiving benefits after the week the aid began, a proxy for hiring, fell 34,000 to 1.834 million during the week ended Dec. 30, based on the claims report.</p>