Despite a slate of strong U.S. data, which opened the door for a June Fed rate hike, the dollar traded lower through the N.Y. morning session on Tuesday. The markets overall have continued to largely discount a June hike, and talk floating around of a July move instead, may have dented the dollar on Tuesday. EUR-USD dipped to session lows of 1.1303 after the in-line CPI and stronger housing data, though made its way to near 1.1350 as the session progressed. USD-JPY meanwhile, fell to 108.84 lows from highs near 109.65, as Fed fears spooked Wall Street.
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