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US Dollar Retreats as Inflation Misses Expectations

May 10, 2018 at 19:33 by Vladimir Vyun

Focus on one US dollarThe US dollar fell against its most-traded rivals (with the exception of the extremely weak Great Britain pound) after US inflation missed expectations.

The Bureau of Labor Statistics reported that the Consumer Price Index rose 0.2% in April on a seasonally adjusted basis following the 0.1% decline in March. It was a slower rate of growth than 0.3% predicted by experts. The core CPI rose 0.1%, also missing expectations — 0.2%.

Analysts speculated that, while the data is unlikely to deter the Federal Reserve from its policy path, it reduces pressure on the Fed to tighten its policy more aggressively.

EUR/USD jumped from 1.1850 to 1.1928 as of 19:27 GMT today. USD/JPY fell from 109.74 to 109.35 after touching the daily high of 110.01.

If you have any questions, comments, or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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