A quiet news day left the US dollar trending in narrow ranges, despite a slowing pace of retail sales growth of 0.2%, compared to 0.7% growth previously. This could contribute to the list of factors that might shorten the odds of the Federal Reserve adjusting interest rates on Thursday. The absence of an interest hike announcement could see the dollar weaken.
Key releases today include inflation data in the form of Consumer Price Index (CPI) figures, which could affect movements in dollar markets. However, investors will be focusing on any clues as to what might transpire from the central bank on Thursday.