Dollar slips after weak U.S. data hints at dovish Fed

From reuters.com

The U.S. dollar slid to a one-month low against a basket of major currencies on Wednesday after weak U.S. gross domestic product and durable goods orders data signalled the likelihood of a continued dovish stance from the Federal Reserve. The Commerce Department said U.S. gross domestic product fell at a 2.9 percent annual rate in the first quarter, instead of the 1.0 percent pace it had reported last month, to record its worst performance in five years. In a second report, the department said orders for long-lasting U.S. manufactured goods fell 1.0 percent last month, marking the first decline in three months. ... (full story)