Important part of ECB decision is any signal of rate cut timing after US CPI shocks market
- Hot US CPI reading may be in rear view mirror but effects persisting today as traders bet that the inflation fight is not over.
Source: fxstreet.com
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- Hot US CPI reading may be in rear view mirror but effects persisting today as traders bet that the inflation fight is not over.
EUR/USD came under heavy bearish pressure and registered its largest one-day loss of 2024 on Wednesday, losing over 1%.
The Pound keeps trading lower with the recent reversal from 1.2700 increasing bearish pressure.
The NZD/JPY currency pair is trading near the 91.541 level, experiencing what appears to be a robust uptrend.
Canadian Dollar extends losses with US Dollar strengthening across the board.