U.S. Dollar Dips as Inflation Meets Expectations in April

The U.S. dollar fell on Friday following data that indicated inflation in April rose as expected. The personal consumption expenditures (PCE) price index increased by 0.3% last month, mirroring the gain in March. Consequently, the dollar index saw a slight decline, marking its first monthly dip in 2024.

The dollar was lower on Friday after data showed that U.S. inflation rose in line with expectations in April, with the currency on track for its first monthly decline in 2024. The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department's Bureau of Economic Analysis said on Friday, matching the unrevised gain in March.

The U.S. dollar index was last down 0.248% at 104.51.