The dollar was under pressure from early in the session, as disappointing PPI and retail sales weighed quickly. EUR-USD eventually traded to better than six-week highs over 1.1460, as USD-JPY traded under 119 for the first time since October 2. The Beige Book reported modest to moderate economic growth, though KC noted a slight decline in activity. Richmond and Chicago said the pace of growth had slowed, with a number of Districts citing the strong dollar as restraining manufacturing activity and tourism. The dollar and Treasury yields moved to session lows after the report.
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