Dollar Slips as Favorable PPI Reduces Fed Rate Hike Chances
The U.S. dollar is under pressure after weaker-than-expected producer price index (PPI) data reduced the likelihood of a Federal Reserve rate hike at its upcoming FOMC meeting, with odds now standing at 11% from 43%. The decline in the dollar was partially offset by rising tensions and airstrikes in the Middle East.
Topics: CPI data Fed policy Middle East tensions PPI report US dollar