FOREX-Dollar falls after moderate rise in US inflation

NEW YORK, June 11 (Reuters) - The U.S. dollar fell against the yen and euro after data showed underlying inflation in the world's largest economy rose less than expected last month, suggesting the Federal Reserve could cut interest rates sooner than later.

The core consumer price index - a gauge of underlying inflation - rose just 0.1% in May after a 0.2% rise in April.

The dollar fell 0.3% against the yen to 144.44 yen JPY=EBS, while the euro rose 0.4% to $1.1470 EUR=EBS.