Dollar drifts lower as market in consolidation post-inflation data

“We think the implications (of the CPI report) for near-term shifts in Federal Reserve policy are minimal - officials know not to extrapolate early-year inflation data forward," said Karl Schamotta chief market strategist, at Corpay in Toronto. "But a slightly more hawkish tone should come through in communications over the next month, keeping risks tilted to the upside for the dollar”

Read the CNBC article here.