Economic TimesLean R·
US dollar retreats after softer-than-expected inflation data
The dollar faced a downturn against key currencies following unexpected inflation results from the US. The US Commerce Department reported the Personal Consumption Expenditures Price Index increased by merely 0.3% last month, contrary to economists' forecasts of 0.4%. This shift affected market predictions about Federal Reserve interest rate adjustments, resulting in lower US Treasury yields.
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