The consumer price index, excluding the often volatile food and energy categories, increased 0.2% from March, according to Bureau of Labor Statistics data out Tuesday. Compared with April of last year, the core CPI rose 2.8%, unchanged from the prior month. The overall CPI advanced 0.2%, and climbed 2.3% on an annual basis.

DXY extends Tuesday’s CPI-driven slide, falling to 100.58. Weaker inflation data fuels Fed rate cut bets and adds pressure to the U.S. dollar.

Consumer prices rose 2.3 per cent in April from a year ago, down from 2.4 per cent in March and the smallest increase in more than four years.

The dollar fell and major U.S. stock indexes rose on Tuesday on news that U.S. consumer inflation picked up less than expected in April when President Donald Trump unveiled a raft of tariffs that has wreaked havoc on global markets.

US inflation came in softer than forecast for a third straight month in April with the consumer price index increasing 0.2% from March. The core CPI rose 2.8%, compared with April of last year, unchanged from the prior month.

US economic outlook improves, inflation forecasts drop and recession odds fall after US-China trade deal to reduce the highest tariffs for 90 days.

US consumer prices probably picked up in April after the smallest advance in nine months, foreshadowing a broader acceleration as many companies seek to pass on higher tariffs.

The Pound US Dollar ( GBP/USD) exchange rate traded in a narrow range on Wednesday following US President Donald Trump’s latest attack on Federal Reserve monetary policy. At the time of writing GBP/USD was trading at around $1.3318. Virtually unchanged from Wednesday’s opening levels.

Gold prices rose on Tuesday on bargain-hunting after a sharp loss in the previous day, while softer-than-expected inflation data from the U.S. also lent support.

XRP price outlook brightens as Ripple’s Monica Long forecasts surging adoption amid shifting US crypto sentiment.