LONDON—The dollar eased on Monday but its losses were contained by data last week that showed U.S. wholesale inflation rose more than expected last month, reinforcing the view that the Federal Reserve may have to keep interest rates higher for longer.
The U.S. currency made the most upward headway against commodity-linked currencies like the Australian and New Zealand dollars, but briefly rose as much as 0.5 percent against the pound after data showed the UK economy recovered in October from a public holiday for Queen Elizabeth’s funeral, but still pointed to a bleak outlook.
Sterling was last up 0.2 percent at $1.2287, having dipped to a session low of $1.2207, and was down 0.1 percent against the euro at 86.03 pence….