FOREX-Dollar firms as inflation moves into focus

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By Veronica Brown

LONDON, May 14 (Reuters) - The dollar rose broadly on Wednesday, building on gains made after robust U.S. retail data, with attention turning to inflation figures that could heighten chances of a pause in the Federal Reserve's rate cut campaign.

Inflation is the major focus on both sides of the Atlantic, as the Bank of England releases its quarterly inflation report at 0930 GMT before the U.S. consumer price index at 1230 GMT.

The dollar was bolstered after data on Tuesday showed retail sales, excluding the hard-pressed auto sector, rose 0.5 percent in April, more than double economists' forecasts.

The greenback, which has rallied on speculation the Fed is done with cutting borrowing costs after slashing by 325 basis points since September, also garnered support from Fed comments emphasising inflation concerns.

Cleveland Fed President Sandra Pianalto said core inflation measures were rising faster than she liked and called inflation "a key risk".

Dallas Fed President Richard Fisher said it was unclear whether a slowing U.S. economy would be enough to alleviate cost pressures. [ID:nN13441127]

Economists in a Reuters survey expect a median 0.3 percent gain in the CPI and an annual rise of 2.4 percent in core CPI excluding food and energy items.