Dollar slumps as CPI, retail sales disappoint

Investing.com – The dollar sank Friday after U.S. and data for June disappointed.
The was off 0.42% at 95.16 at 9:15 ET after trading at 95.41 prior to the release of the official data.
The core was up 0.1% when it was forecast to be up 0.2%.
The core was up an annual 1.7% compared with a forecast of 1.7%.
The headline in June was flat when it was forecast to rise 0.1%.
The annual rate was 1.6%, compared with a forecast of 1.7%.
In her testimony to Congress Fed Chair Janet reiterated the message of gradual tightening.
But she conditioned the pace of tightening to developments on the inflation front.
The Fed’s target rate for inflation is 2%
Core retail sales fell 0.2% from May when they were forecast to rise by 0.2%.
Headline sales were down 0.2% against a forecast increase of 0.1%.

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