The dollar exchange rate is weakly declining against the euro and recovering against the yen after a sharp fall against almost all world currencies the day before, caused by data on a significant weakening of inflation in the United States.

As it became known on Thursday, consumer prices (CPI index) in the U.S. in October rose by 7.7% compared to the same month last year after an increase of 8.2% in September. Thus, inflation slowed to the minimum since January and was significantly below market forecasts.

The data could affect the policy of the US Federal Reserve (Fed), which is aggressively raising interest rates in an attempt to curb inflation. The head of the Federal Reserve Bank (FRB) of Philadelphia, Patrick Harker, has already spoken in favor of slowing further rate hikes.

“In the coming months, in light of the cumulative tightening (of the MPC – IF) already achieved, I expect the pace of rate hikes to slow as we approach a fairly restrictive policy,” Harker said during a speech at an event in Philadelphia.

As of 9:14 a.m. Moscow time, the euro was up 0.11 percent against the dollar to $1.0220 versus $1.0209 at the close of Thursday’s session.

The dollar-yen exchange rate rose 0.46% to 141.63 yen from 140.98 yen at the end of the previous session.

The pound declined 0.04% to $1.1711 from $1.1716 at the close of previous trading.

The yuan exchange rate hit a four-week high. The dollar fell 1.26% to 7.10961 yuan per $1 compared with 7.1865 yuan at Thursday’s close.

The Australian dollar is up 0.39% to $0.6645 against $0.6619 at Thursday’s close. Earlier, it reached a seven-week high of $0.67 despite statements by Michelle Bullock, deputy governor of the Central Bank of Australia, that the country’s interest rate is likely to continue rising.

The index calculated by ICE, which shows the dynamics of the US dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), is down 0.25%. The day before, the indicator collapsed by 2%.