The US CPI data came in a little bit stronger-than-expected especially from the core inflation perspective. Shelter was to blame for most of the upside. Energy prices fell and are expected to fall further in the current month.
US yields moved up by are coming off the high levels. The US dollar also moved higher versus the three major currency pairs – the EURUSD, USDJPY and GBPUSD. However, the rates of come off the highs and the US dollar has come off its highs as well.
In this video I take a look at the three major currency pairs from a technical perspective. What levels are in play? What are targets and risks?
This article was written by Greg Michalowski at www.forexlive.com.