US Dollar surges against Euro after CPI

Source: Bloomberg
© Scanpix/Reuters
The greenback climbed to the highest level in eight months against the Euro, triggered by the rise in short-term US Treasury yields, which caused traders to speculate about potential increments in interest rates. The US Dollar stretched its gains after the release of June's Consumer Price Index report. Unsurprisingly, US CPI rose by 0.3%. However, core CPI revealed to be less that it was forecast, registering an increase of 0.1%.
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