CNBC: Dollar higher on fresh inflation data, euro drops after ECB rate cut

"Although the Fed is seen cutting its benchmark by a quarter point, moves in the last 24 hours — from the Bank of Canada, Swiss National Bank, and European Central Bank — have ensured that cross-currency rate differentials will remain wide relative to the U.S., maintaining the dollar's position in relative terms," said Karl Schamotta, chief market strategist at Corpay CNBC: Dollar higher on fresh inflation data, euro drops after ECB rate cut