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BBDXY Off Initial CPI Revision Lows, Inflation Trend Not Altered

USD

Broader USD post-U.S. annual CPI revisions price action mirrors what has been flagged in U.S. STIR markets, with the initial dovish impulse being partially reversed as participants assess the size of the limited revisions and lack of impact re: headline inflation trend.

  • BBDXY made fresh session lows on the release after printing around unchanged levels just ahead of the event.
  • The index has since pared roughly 2/3 of the move lower, sticking comfortably within the range seen yesterday.
  • There wasn’t any meaningful technical breaks in the major USD FX pairs during the initial bout of USD weakness.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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