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NEW YORK: The dollar fell on Tuesday as investors waited on inflation data for further signs of whether price pressures are ebbing and what it means for further Federal Reserve interest rate hikes.

Consumer price data on Wednesday is expected to show headline inflation rose by 0.2% in March, while core inflation rose 0.4%.

The Fed is seen as likely to hike rates by an additional 25 basis points at its May 2-3 meeting, before pausing in June. Markets are also pricing for the Fed to cut rates by year-end on an expected recession, though Fed officials have stressed the need to keep rates high in order to bring down inflation.

Strong jobs data for March have added to expectations that the US central bank will complete one more rate hike. The data on Friday showed employers added 236,000 jobs while the unemployment rate fell to 3.5%.

The dollar index fell 0.36% to 102.08. The euro gained 0.52% to $1.0918.

The euro was also likely boosted by a rise in European bond yields on Tuesday as traders in the region returned after markets were closed on Friday and Monday for the Easter holiday. The dollar also slid against the yen, after jumping on Monday as Bank of Japan Governor Kazuo Ueda signaled no hurry to dial back its massive stimulus. The dollar was last down 0.33% against the Japanese currency at 133.16.

In cryptocurrencies, bitcoin breached the key $30,000 level for the first time in 10 months. It was last up 1.8% on the day at $30,184.

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