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Big jumps in USD on the CPI beat

USD
  • USD is lifted across the board after US CPI beat expectations.
  • Fed swaps now show 75bps fully priced for the next meeting.
  • Govies and Equity fell, as most desk looked to have been positioned for a CPI miss, given the price action across assets pre data.
  • EURUSD fell from 1.0174 to the session low at 1.0044, and finding support just ahead of 1.0037 20-day EMA.

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