Traders are conflicted about what the huge 2.8% contraction in the US economy means for monetary policy moving forward.
Federal Reserve officials have said they expect the recovery to get back on track as the year progresses, but the extent of the past winter's woes could push back the time frame for the first rate hike well into 2015.
The buck slipped to
The dollar failed to rally versus the euro despite another tame euro zone inflation reading. The pair held at
Euro zone inflation remained stable at 0.5% in June, flash estimate from Eurostat showed.
It was forecast to rise slightly to 0.6%. Inflation has been below the
Meawhile, German retail sales fell unexpectedly in May from the prior month.
Official data from Destatis revealed that retail sales were down 0.6% month-on-month in May.
The dollar was steady at
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