The U.S. dollar continued to weaken on Wednesday, extending its sharpest drop in over three weeks after softer-than-expected consumer inflation data strengthened the case for Federal Reserve rate cuts, coinciding with easing global trade tensions.
Data showed the U.S. consumer price index (CPI) rose 0.2% in April, falling short of the 0.3% increase forecast by economists in a Reuters poll, following a 0.1% decline in March.
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