The dollar index (DXY00) on Wednesday fell by -0.14%. The dollar on Wednesday fell moderately as the weaker-than-expected U.S. Apr CPI report knocked T-note yields lower and fueled speculation the Fed may be done with its rate-hike campaign. Also, strength in EUR/USD weighed on the dollar as the euro rose on hawkish ECB comments.
U.S. Apr CPI eased to a 2-year low of 4.9% y/y from 5.0% y/y in Mar, better than expectations of unchanged at 5.0% y/y. Apr CPI ex-food and energy eased to 5.5% y/y from 5.6% y/y in Mar, right on expectations.
