Dollar Falls as Factory Data Challenge Outlook for Higher Rates
- Greenback slides versus euro, yen for first day in four
- Economic reports have missed analyst forecasts this month
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The dollar slumped for the first time in four days versus the euro and the yen as U.S. economic reports fell short of forecasts, clouding Federal Reserve plans to boost interest rates.
Bloomberg’s gauge of the greenback versus 10 peers slipped following its best two-day gain in three weeks amid reports showing manufacturing declined by the most in more than a year in March and industrial production slumped. Consumer confidence unexpectedly fell in April to the weakest level in seven months.