This morning the dollar is still weak against both sterling and the euro.
Data on inflation will be released this afternoon. The US core inflation rate YoY is currently forecasted at 5.9% and inflation YoY is predicted to hit 9.1%. If the rate expectation is met, this will be the highest inflation rate the US has seen in 41 years. Energy prices are a leading factor in price increases, with the price of gasoline rising by 59.9%.
Market watchers will gain a valuable insight into consumer attitudes this as United States Michigan consumer sentiment data will be released on Friday.
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