Dollar slides after US CPI data
==========

The dollar fell after US consumer prices rose less than expected in April, indicating inflation has resumed a downward trend. The market welcomed the CPI news as it confirmed that the froth in the first quarter was not going to continue in force into the second quarter. Futures traders priced in rate cuts by the Federal Reserve in September and December. The dollar index fell to a one-month low at 104.41 but later pared losses to trade 0.25% lower at 104.77. The dollar's biggest decline was against the yen, weakening 0.47% to 155.69. The drop would likely put at bay for the moment currency intervention by the Bank of Japan and other authorities. The consumer price index rose 0.3% in April, and in the 12 months through April, the CPI increased 3.4%. Retail sales were unexpectedly flat last month. The euro rose 0.18% to $1.0837, and sterling rose 0.25% to 1.2620.

#UsCpiData #Dollar #Inflation #FederalReserve

https://www.brecorder.com/news/40303686