US Dollar jumps due to high US CPI

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Source: Dukascopy Bank SA


US month on month inflation was revealed to be at 1.00% instead of the forecast 0.70%. Meanwhile, core inflation is at 0.60% instead of 0.50%. The US Dollar reacted to the news with a spike upwards.

The spike was attributed to the fact that the US Federal Reserve's efforts to stop inflation have failed and more steeper rate hikes are required.

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