The highest level of the euro and sterling in a year against the dollar

The dollar fell and the euro and sterling recorded their highest level in one year each against the US currency, Thursday, after the producer price index fell last month, which reinforced expectations that the US Federal Reserve is close to ending its monetary tightening policy.

Wholesale prices fell 0.5 percent in March, while basic commodity prices fell 0.1 percent.

Other data showed that the number of Americans filing new claims for unemployment benefits rose more-than-expected last week, in another sign of declining labor market strength amid higher borrowing costs dampening demand in the economy.

The pound sterling recorded $1.2521, while the euro rose to $1.10470, the highest level since April 4, 2022.

The dollar index fell to 101.10, the lowest level since April 2nd.