US dollar slips on soft inflation figures: Quiet day ahead

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The US dollar fell sharply on Friday after data showed that consumer price index rose 0.2% on a month over month basis in April. This was a modest improvement following the 0.3% decline in March. Economists polled were expecting inflation to rise 0.3% instead.

Retail sales numbers were also soft, rising 0.4%, less than the forecasts of 0.6% increase. March’s retail sales numbers were revised from -0.2% to 0.1%.

The US dollar was seen trading subdued on today’s open. Economic data released so far showed China’s industrial production rise 6.5%, less than the expected 7.0%, while retail sales rose 10.7%, slightly below forecasts of 10.8%.

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