US DOLLAR ADDS ON GAINS FOLLOWING HOT CPI FIGURES
- Core and Headline CPI rose higher than expected in February.
- Despite higher inflation, weak labor market data reported last Friday would seem to limit the USD’s gains.
- Expectations still point toward the interest rate easing cycle starting in June.
The US Dollar Index (DXY) is currently trading slightly higher at 103.05. Despite the report of hot US Consumer Price Index (CPI) figures, the index stands near its December lows.
After The US labor market showed mixed figures for February, the hot CPI figures failed to trigger major changes in expectations. Markets still expect 75 bps of easing in 2024 by the Federal Reserve (Fed) starting in June.
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