US Dollar weakens following April CPI figures

The DXY fell to its lowest level since mid-April on Wednesday. Weak US inflation data and unimpressive Retail Sales increase odds of a Fed interest rate cut in the near term. Markets are still discounting higher odds of the first cut being in September. The US Dollar Index is trading near 104.4 on Wednesday, showing sharp losses triggered by the softer-than-expected Consumer Price Index and flat Retail Sales figures from April.

However, the bears are approaching the 200-day SMA at 104.10, which in case of breaching it would paint the technical outlook with red. US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes.

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U.S. CPI Softer Than Expected at 0.3% in April; Bitcoin Rises to $63.7KStephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
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