EUR/USD is now up 0.3% on the day and nudging above 1.1700 after having seen gains limited by the figure level yesterday. The pair now trades to the highest level in over two weeks, though there are large option expiries at the 1.1700 mark to be wary of today.
The inflation data yesterday reaffirms the potential for the Fed to lean more dovishly in September, which is what markets are banking on at the moment. That especially as the politicisation of the Fed begins to grow louder as Trump keeps up the pressure on the central bank to cut interest rates.
But from a technical perspective, the dollar remains vulnerable as the downside momentum this month continues to stay the course. EUR/USD will be looking back towards the 1.1800 mark while GBP/USD looks poised to revisit the 23-24 July highs just under 1.3600. However, any further pushes beyond that might need dollar sentiment to worsen much more than what we're seeing.
This article was written by Justin Low at investinglive.com.Hence then, the article about dollar nudges lower as post cpi fallout continues for now was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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