SOME DOWNSIDE RISKS TO THE DOLLAR GIVEN A POTENTIAL DOWNSIDE SURPRISE IN CPI – ING
Inflation figures carry some downside risks to the Dollar, economists at ING report.
DXY could slip to the 105.20-105.40 area
The Dollar risks another correction event today as inflation may slow a bit more than expected, even though core stickiness should prevent a major repricing of rate expectations.
We see some downside risks to the Dollar given a potential downside surprise in CPI, and DXY could slip to the 105.20-105.40 area.
Expect some support mostly coming the way of procyclical currencies, while we remain unconvinced that the Yen can truly benefit from slight tweaks in the US/Fed narrative at this stage.
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