The US dollar advanced on its closest rivals yesterday on the back of underwhelming inflations prints, before those gains evaporated in the afternoon. USD/GBP climbed higher this morning in reaction to the UK’s GDP figures.
Core inflation rose from 0.2% in October to 0.3% last month, a setback for the many scores of market participants who had begun to think the Federal Reserve would cut base rates as early as Q1.
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