US FX Handover: Dollar Shrugs Off Weak CPI as Oil Continues to Dump
- US CPI (May) came in a tick weaker than forecast at 1.8% y/y (Core CPI printed at 2.0% y/y). Despite traders increasing bets on a Fed rate hike this summer, the US dollar was among the strongest major currencies today, along with the yen.
- GBP traders were nonplussed by PM frontrunner Boris Johnson’s speech this morning.
- The Aussie was the weakest major currency on the day.
- WTI fell 4% today to close near 51.00, its lowest level in five months, after an unexpected buildup in inventories. See “4 Reasons Oil is Tanking” for more.
Latest market news
Yesterday 01:03 PM
Yesterday 12:52 PM
Yesterday 12:11 PM
Yesterday 07:49 AM
Yesterday 07:01 AM