US dollar pressured by disappointing economic data

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The US dollar came under pressure on Friday morning, with investors eyeing a duo of disappointing reports on the American economy.

The buck was recently down by 0.44 per cent against the euro at $1.0909, while it was flat against sterling at $1.2878, having earlier traded as strong as $1.2845.

Meanwhile, the greenback declined 0.34 per cent against the Japanese yen to ¥113.48.

Friday’s performance came after data on US inflation and retail sales for the month of April underwhelmed Wall Street expectations. In addition to the dollar weakness, investors were also bidding-up US Treasuries, sending yields lower.

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