The dollar index fell to 101.5 on Tuesday after weaker-than-expected inflation data suggested only a modest impact from President Donald Trump's recently imposed tariffs.
According to the Bureau of Labor Statistics, consumer price inflation eased to 2.3% in April—its lowest level since February 2021 and slightly below market expectations of 2.4%. On a monthly basis, CPI rose 0.2%, rebounding from a 0.1% decline in March but still missing the forecasted 0.3% increase.
Core inflation held steady at 2.8% year-over-year, marking a four-year low. Markets also continued to weigh the implications of a temporary tariff rollback following a U.S.-China agreement to reduce tariffs to 30% and 10%, respectively, for a 90-day period.
Treasury Secretary Scott Bessent signaled plans to meet with Chinese officials in the coming weeks to initiate talks on a broader trade deal.
Source: Trading Economics
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