U.S. dollar tumbles across the board as inflation rise eases

The U.S. dollar fell broadly after a U.S. inflation report showed a slower pace of price increases. The data supported expectations for a smaller 50-basis-point Fed rate hike, and futures priced in a lower peak rate of about 4.8%.

The Australian and New Zealand dollars gained about 1.6% and 1.3% against the greenback.