Dollar Retreats as US Inflation Data Eases Rate Hike Expectations
The U.S. dollar retreated after inflation data showed a rise of 4.1% year-over-year, which matched expectations and eased concerns about potential rate hikes by the Federal Reserve this year. The dollar index fell to 101.41 as markets now price in around a 30% chance for a July hike.
Topics: Federal Reserve inflation PCE index USD