US dollar slides to new 1-month lows on calm inflation data



The US dollar skidded to new one-month trough on Friday, as inflation data aggravated the uncertainty over the timing of Federal Reserve's interest rate hikes. A measure of core inflation went up almost 0.1% in May, the smallest increase in five months. The greenback stood at $1.1373 per euro. Against the Japanese yen, the dollar closed at ¥123.080. It seems the US markets were contented with the view this week's FOMC meeting “reduced the chances of more than one rate hike before year end,” said Ray Attrill, Global Co-head of FX Strategy at National Australia Bank.

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