The dollar was relatively stable against the euro and drifted slightly lower against the yen after US CPI and retail sales were in line with market expectations. While headline inflation was the highest since June 2009, excluding food and energy inflation was much more benign, giving the Fed plenty of room to move ahead with its bond-purchase plan announced yesterday. The dollar was at Y78.06, down a touch from Y78.10 just before the data release, but still up more than 0.85% on day, according to EBS via CQG. Euro holds onto gains of 0.75% on the day vs the dollar at $1.3085.
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