US dollar is all over the place after a hot CPI reading
globalreutersMarch 12, 20241 Mins read The US dollar has made three separate moves after today’s US inflation report showed prices rising faster than anticipated. The first move was a 40-60 pip jump in the dollar as core CPI rose 0.4% compared to 0.3% expected in February.
However that move lasted only seconds and was quickly erased and then more.
But more recently, the dollar is beginning to climb again. On a one-minute EUR/USD chart it looks like this:
It’s a similar story in USD/JPY as it begins to climb again.
The bond market isn’t giving many clues as it’s played the same game as FX with US 2 year yields jumping, reversing and now tracking higher again.
This article was written by Adam Button at www.forexlive.com.
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