Dollar retreats from 18-month high despite strong US inflation data

The US dollar slipped from its highest level in 18 months on Thursday, despite US inflation data coming in above expectations.

The dollar index, which tracks the greenback against a basket of major currencies, fell 0.1% to 102.06 points.

The euro rose 0.3% from its lowest point in 18 months to $1.1187, while the British pound gained 0.2% to $1.3224, recovering from a 13-month low.

The Australian dollar dropped 0.3% to $0.6952 after an unexpected decline in local employment in September, while the New Zealand dollar edged up 0.2% to $0.5604.

The Japanese yen strengthened by about 0.3%, reaching 157.82 yen per dollar.

Offshore, the Chinese yuan inched up to 6.6916 per dollar after data showed China's producer price inflation rose last month due to higher commodity costs.