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Firmer Post-PPI, BBDXY Sticks To Thursday's Range

USD

Initial reaction to the firmer-than-expected headline and core PPI data (which more than countered a skew from a handful of negative revisions) sees the BBDXY trade to fresh session highs.

  • Further unwind of pricing of Fed rate cuts seen (~79bp of cuts seen through ’24 at typing vs. ~90bp pre-data) comes in tandem.
  • Still, the BBDXY sticks to yesterday’s range, with Thursday’s best levels untested.
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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