By Laura Matthews and Samuel Indyk
NEW YORK/LONDON, July 15 (Reuters) - The dollar slipped against major currencies on Wednesday after softer-than-expected U.S. producer prices reinforced signs of easing inflation, bolstering the view that the Federal Reserve can remain patient on interest rates even as investors weighed renewed strikes on Iran.
The Producer Price Index for final demand dropped 0.3% in June after a downwardly revised 0.6% increase in May, the Bureau of Labor Statistics said on Wednesday. Economists polled by Reuters had forecast the PPI unchanged after a previously reported 1.1% advance in May.
The dollar was flat against the yen at 162.19 yen. The euro steadied at $1.1433, while sterling rose 0.44% to $1.3447.
The U.S. dollar index, which tracks the currency against six major peers, softened 0.09% to 100.79. It fell 0.4% in the previous session, its biggest decline in nearly two weeks, after touching its highest level since July 2.
NEW YORK/LONDON, July 15 (Reuters) - The dollar slipped against major currencies on Wednesday after softer-than-expected U.S. producer prices reinforced signs of easing inflation, bolstering the view that the Federal Reserve can remain patient on interest rates even as investors weighed renewed strikes on Iran.
The Producer Price Index for final demand dropped 0.3% in June after a downwardly revised 0.6% increase in May, the Bureau of Labor Statistics said on Wednesday. Economists polled by Reuters had forecast the PPI unchanged after a previously reported 1.1% advance in May.
The dollar was flat against the yen at 162.19 yen. The euro steadied at $1.1433, while sterling rose 0.44% to $1.3447.
The U.S. dollar index, which tracks the currency against six major peers, softened 0.09% to 100.79. It fell 0.4% in the previous session, its biggest decline in nearly two weeks, after touching its highest level since July 2.
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