The dollar slipped Friday after a measure of first-quarter inflation came in below expectations despite surprisingly strong economic growth in the first three months of the year.
The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently down 0.1% at 90.91.
The index briefly jumped to 91.15 after the Commerce Department said the U.S. economy grew 3.2% in the first quarter. That was well above the 2.5% reading anticipated by economists surveyed by The Wall Street Journal.
The dollar changed direction, however, after traders took a deeper look at the report. Most significant for the outlook for monetary policy, the price index for personal-consumption expenditures increased at a 0.6% pace in the first quarter, down from 1.5% in the final quarter of 2018. Core prices, excluding food and energy categories, rose at a 1.3% rate, down from 1.8%.
Scalping Strategy Course (DVD + Online)The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently down 0.1% at 90.91.
The index briefly jumped to 91.15 after the Commerce Department said the U.S. economy grew 3.2% in the first quarter. That was well above the 2.5% reading anticipated by economists surveyed by The Wall Street Journal.
The dollar changed direction, however, after traders took a deeper look at the report. Most significant for the outlook for monetary policy, the price index for personal-consumption expenditures increased at a 0.6% pace in the first quarter, down from 1.5% in the final quarter of 2018. Core prices, excluding food and energy categories, rose at a 1.3% rate, down from 1.8%.
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