The dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years and retail sales turned flat, which pulled forward expectations for rate cuts in the world's biggest economy.
The dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years and retail sales turned flat, which pulled forward expectations for rate cuts in the world's biggest economy.
Stocks and other risk-sensitive assets such as the Australian dollar led gains in the wake of the data release.
The New Zealand dollar hit a two-month high at $0.6131.
Softer-than-expected retail sales figures, which were flat last month instead of the 0.4% gain that economists had forecast, reinforced the newfound confidence in rate cuts.
Persons:
Sterling, Bart Wakabayashi, China's, Bitcoin
Organizations:
Australian, New Zealand, U.S, State, European Central Bank
Locations:
Asia, Tokyo, Treasuries