NEW YORK, Nov. 30 (Xinhua) -- The U.S. dollar advanced in late trading on Thursday, despite the latest data showing that the U.S. inflation slowed in October.

The dollar index, which measures the greenback against six major peers, increased 0.72 percent to 103.4996 in late trading.

October's annual Personal Consumption Expenditures (PCE) Price Index, reported by the U.S. Bureau of Economic Analysis on Thursday, came in as expected at 3 percent, down from the previous year-on-year growth of 3.4 percent. Also for October, the annual Core PCE Price Index matched consensus expectations at 3.5 percent, a decrease from the preceding rate of 3.7 percent.

Despite cooling inflation and a mixed labor market, the U.S. dollar and the U.S. Treasury yields bounced off recent lows. Some analysts suggested that the dollar might have experienced an upswing due to month-end demand, attributed to investors settling their positions for November. This month was marked by a significant decline in the U.S. currency as the market anticipated future rate cuts.

Conversely, others anticipated a decrease in the dollar's value by the end of the month, considering the substantial surge in equities throughout November. Analysts noted indications of dollar selling at major U.S. banks. Vassili Serebriakov, a foreign exchange strategist at UBS in New York, commented, "We anticipated a dollar sell-off by month-end due to the considerable rally in U.S. equities. This typically implies that foreign asset managers would have engaged in selling dollars forward."

In late New York trading, the euro fell to 1.0890 dollars from 1.0982 dollars in the previous session, after euro zone inflation eased by more than forecast this month, fuelling bets of early European Central Bank rate cuts. The British pound was down to 1.2623 dollars from 1.2707 U.S. dollars in the previous session.

The U.S. dollar bought 148.1980 Japanese yen, higher than 147.2500 Japanese yen of the previous session. The U.S. dollar increased to 0.8752 Swiss francs from 0.8729 Swiss francs, and it decreased to 1.3568 Canadian dollars from 1.3584 Canadian dollars. The U.S. dollar rose to 10.4931 Swedish kronor from 10.3537 Swedish kronor. Enditem

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