Consumer prices rose 2.3 per cent in April from a year ago, down from 2.4 per cent in March and the smallest increase in more than four years.

DXY extends Tuesday’s CPI-driven slide, falling to 100.58. Weaker inflation data fuels Fed rate cut bets and adds pressure to the U.S. dollar.

The dollar fell and major U.S. stock indexes rose on Tuesday on news that U.S. consumer inflation picked up less than expected in April when President Donald Trump unveiled a raft of tariffs that has wreaked havoc on global markets.

US inflation came in softer than forecast for a third straight month in April with the consumer price index increasing 0.2% from March. The core CPI rose 2.8%, compared with April of last year, unchanged from the prior month.

Economists at Goldman Sachs Group Inc. boosted their forecasts for US inflation this year and next, in part to account for a weaker dollar following the Trump administration’s tariff announcements.

US economic outlook improves, inflation forecasts drop and recession odds fall after US-China trade deal to reduce the highest tariffs for 90 days.

Gold prices rose on Tuesday on bargain-hunting after a sharp loss in the previous day, while softer-than-expected inflation data from the U.S. also lent support.

XRP price outlook brightens as Ripple’s Monica Long forecasts surging adoption amid shifting US crypto sentiment.