Dollar moves lower after cooler CPI data. Yields move lower. Stocks higher ...Middle East

The US CPI data for the month of May came in softer than expected with the quarter CPI Ed 0.2% versus 0.3%. The headline CPI feminine 0.0% versus 0.1%.. The YoY for core was at 3.4% (the lowest level since April 2021). The headline came in at 3.3% vs 3.4% estimate (unchanged)The market is now pricing in 50 basis points of rate cuts between now and the end of the year.The initial reaction is for the US dollar to move lower as the market now look forward to the FOMC rate decision with a more dovish expectation. EURUSD is now trading at 1.0823 and looks toward the 200-hour moving average 1.08323. The price was trading at 1.0765 prior to the report. The USDJPY is back below the 200 hour MA at

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