The U.S. dollar turned lower against its major rivals on Wednesday, erasing an earlier gain as data came in below expectations and uncertainty rose following a shooting in Virginia that injured a Congressman. The U.S. dollar index , which measures the currency against a half-dozen rivals, fell 0.3% on the day to 96.69. Earlier, it had risen as high as 97.11. In the latest economic data, the consumer price index fell by a seasonally adjusted 0.1% in May. The rate of inflation over the past 12 months slowed to 1.9% in May from a five-year high of 2.7% just four months ago. Separately, May retail sales fell 0.3%, their biggest drop in 16 months. Among major currency trades, the euro was at $1.1261 from $1.1207 late Tuesday, while the dollar traded at ¥109.43 from ¥110.04, a move of 0.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News