The dollar bounded out of the traps when the US markets opened today, in reaction to a small rise in inflation. However, it was pegged back by the core inflation data suggesting the battle is still going the Fed’s way and the overall gain was around 0.25% against the euro.
There is plenty for the markets to chew on today, however, with retail sales and PPI (producer prices) giving more clues to the direction of US prices.
The week will end with the Michigan Consumer Sentiment reading tomorrow.
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USD/GBP past year
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