UniCredit: CPI will be a key test for the dollar
According to a report by Yuexin Bank analysts, following last Friday's stronger-than-expected non-farm data, the US CPI data to be released tonight may become another key test for the foreign exchange market, especially the US dollar. Persistent stickiness in prices may make investors consider reducing their expectations for future Fed rate cuts, thereby supporting the US dollar. If this happens, EUR/USD may fall below 1.09 and USD/JPY may break through 150. A general decline in CPI may cause a slight drop in the US dollar, but it is unlikely to be enough to push EUR/USD above 1.10.
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