Following the release of U.S. consumer price data for April, the dollar experienced a decline against major currencies. The data indicated a downward trend in inflation during the second quarter, which has led to speculation about the possibility of the Federal Reserve implementing an interest rate cut by September.
Additionally, U.S. retail sales for the last month were reported to be unexpectedly stagnant, with an increase in gasoline prices diverting expenditure from other goods. This suggests a slight withdrawal in consumer spending.
Source: reuters.com