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The US Dollar is suffering despite CPI coming in at a 40-year high. However, given that the 7% YoY increase was exactly in-line with the market's expectation, traders probably feel like it is unlikely the Fed will accelerate their rate hike plans.This helped a lot of currency pairs breakout overnight, including AUD/USD, which is trading at its highest level since late November. Can the pair rally back above 0.7300 or is there a chance that tonight's US PPI release held the USD regain some strength?
The US Dollar is suffering despite CPI coming in at a 40-year high. However, given that the 7% YoY increase was exactly in-line with the market's expectation, traders probably feel like it is unlikely the Fed will accelerate their rate hike plans.
This helped a lot of currency pairs breakout overnight, including AUD/USD, which is trading at its highest level since late November. Can the pair rally back above 0.7300 or is there a chance that tonight's US PPI release held the USD regain some strength?
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