Dollar Tanks on Disappointing Data Ahead of FOMC Meeting

London & Capital Sees No Reason Fed to Be Aggressive

The dollar plunged after May U.S. retail sales and consumer price index data missed estimates ahead of the Federal Reserve’s policy decision Wednesday afternoon, reducing bets on additional rate hikes this year. The greenback fell 0.6 percent, for the biggest reaction to the inflation print since at least June 2016.

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