On Thursday, the dollar strengthened despite a relatively weak US producer price inflation report for May, following the Federal Reserve's adoption of a more hawkish stance at the end of its Wednesday meeting.
Thursday's data revealed an unexpected decline in US producer prices for May, with the headline producer price index (PPI) decreasing by 0.2% last month, following an unchanged 0.5% rise in April. Core prices remained steady after a similar 0.5% increase in the previous month.
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