The dollar is still in a weaker position this morning due to falling bond yields.
Data released yesterday showed that the US consumer price index jumped 0.6% in March versus the previous month, the largest gain since August 2012, and rose 2.6% from a year earlier. Both readings were above market expectations.
Despite this, Federal Reserve officials have said that they won’t adjust monetary policy based on temporary jumps in inflation.
There could be further comment on inflation later today, as speeches from several Federal Reserve officials, including Fed Chair Jerome Powell, will take place.
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