US data lifts dollar as Fed hike expectations edge higher

NEW YORK, Aug 26 : The dollar was higher on Wednesday after a round of U.S. economic data, including a reading on inflation that slightly increased expectations for a rate hike from the Federal Reserve ahead of the Jackson Hole symposium of central bankers this week. The Commerce Department said the Personal Consumption Expenditures Price Index increased 3.7 per cent in the 12 months through July, unchanged from June and slightly above the 3.6 per cent estimate of economists polled by Reuters. On a month-over-month basis, PCE rose 0.2 per cent versus the estimate calling for a 0.1 per cent increase, after falling 0.1 per cent in June. "Overall, because the headline was warm enough to prevent a dovish victory, those details weren't really strong enough to hand the hawks a clear win, so I wo