The US dollar is lower on Monday.
The index is down by 0.4% at 100.20 as of 8:33 a.m. ET.
Friday saw some soft data coming out stateside. Core CPI fell by 0.1% in March, marking the first drop since January 2010.
Moreover, retail sales eased for a second straight month in March, falling 0.2% year-over-year, according to the Commerce Department.
The disappointing data has pushed back Fed rate hike expectations. World Interest Rate Probability data provided by Bloomberg shows a 47% chance the Fed hikes in June, down from 66.5% one week ago.
As for the rest of the world, here’s the scoreboard as of 8:15 a.m. ET:
- The Turkish lira is up by 2.5% at 3.6533 per dollar following the constitutional referendum on Sunday. “…the slender margin of victory falls well short of the mandate [President Erdogan] was hoping for, and raises more questions than it provides answers for financial markets,” Neil Shearing, Chief EM economist at Capital Economics, wrote on Sunday. The South Korean won closed little changed at 1,137.45 per dollar as political tensions remain elevated. The Russian ruble is up by 0.5% at 56.0923 per dollar, while Brent crude oil, the international benchmark, is down by 0.2% at $55.80 per barrel. The Japanese yen is stronger by 0.2% at 108.43 per dollar.