Dollar bruised after CPI showdown yesterday ...Middle East

At the balance, the US CPI report yesterday was a good one. I would argue that the key takeaway is that core components are headed in the right direction for the Fed, albeit very slowly. But when you couple that with the softer retail sales data, it ensures that rate cut bets for September are firmly on the table. And traders are also now pricing in another rate cut by December.The dollar was battered and remains bruised in the aftermath, as risk trades soared. Treasury yields dipped heavily and that will be a key spot to watch moving forward for the dollar. While other major currencies are settling down, USD/JPY is down by another 100 pips today:This comes as 10-year yields in the US are al

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