The US dollar rose against most major currencies during todays trading amid the ongoing tariff war, following the release of inflation data.

Data from the US Department of Labor released today showed that the Consumer Price Index (CPI) rose by 2.7% year-on-year in June, in line with expectations, while the core inflation index which excludes food and energy prices recorded a monthly increase of 0.2%, which was lower than expected.

Following the release of the data, President Donald Trump stated that the Federal Reserve must cut interest rates, and he renewed his criticism and attacks on Federal Reserve Chair Jerome Powell.

In terms of trading, the US Dollar Index rose by 0.6% to 98.6 points as of 20:08 GMT, recording a high of 98.7 and a low of 97.9.

Canadian Dollar

The Canadian dollar fell against its US counterpart at 20:24 GMT by 0.1% to 0.7291.

Government data revealed that Canadas Consumer Price Index rose by 0.1% last month, in line with expectations, following a 0.6% increase in the previous reading.

Australian Dollar

The Australian dollar fell against its US counterpart at 20:24 GMT by 0.4% to 0.6516.