Dollar Drops to 2-Month Low on Cooling US Inflation

Dollar Drops to 2-Month Low on Cooling US Inflation
U.S. one dollar bills are seen on a light table at the Bureau of Engraving and Printing in Washington on Nov. 14, 2014. Gary Cameron/Reuters
Reuters
Updated:

LONDON/SINGAPORE—The dollar fell to a two-month low on Thursday after data showed U.S. inflation slowed sharply in March, bolstering speculation the Federal Reserve’s rate hiking campaign is either already finished or will be by May.

As the dollar slipped, the euro rose to within a whisker of a one-year high, with traders betting the European Central Bank’s (ECB) fight against inflation still has a way to go.