The U.S. dollar traded weak against most of its major counterparts on Friday amid bets the Federal Reserve will start cutting rates sometime soon this year after data showed the nation's core PCE inflation came in lower than expected in December.
The Commerce Department said consumer prices in December were up by 2.6% compared to the same month a year ago, unchanged from November and in line with economist estimates.
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Forex News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.