Yu Xin Bank: CPI will be a key test of the dollar
October 10, Yu Xin Bank analysts said in a report, following last Friday's stronger-than-expected non-farm payrolls data, will be released tonight, the U.S. CPI data could become the currency markets, especially the dollar facing another key test. Prices continuing to remain sticky could make investors consider reducing the number of rate cuts expected from the Federal Reserve in the future, thus supporting the US dollar. If that happens, EUR/USD could fall below 1.09 and USD/JPY could break above 150. a drop in headline CPI could lead to a small decline in the dollar, but it is unlikely to be enough to lift EUR/USD above 1.10.
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