Will US inflation data today turn around USD weakness?
The dollar continues to weaken ahead of the US consumer price index later today, trading at its lowest since 8 May against the euro. Headline CPI is expected to decelerate to 3.1% in June YoY, down from 4% in May. Core CPI growth is also expected to slow to 5%, after a 5.3% print in May. If that stubborn inflation continues though, will it have the power to add weight back in the dollar.
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