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June 14 (Reuters) - The dollar index on Wednesday fell to its lowest since Nov. 9 against a basket of major currencies that measure its strength after the release of weaker-than-expected U.S. CPI and retail sales data.
The unexpected decline in U.S. consumer prices and retail sales month over month suggested inflation pressures are moderating, which could have an impact on further interest rate increases by the Federal Reserve this year.
The euro rose to a one-week high against the dollar while the greenback hit a one-week low against the Japanese yen . The Australian dollar rose 1.25 percent to the highest against its U.S. counterpart since April 3 after the release of the data. (Reporting by Dion Rabouin in New York; Editing by Jeffrey Benkoe)