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Yesterday’s CPI data out of the US continues to support the greenback as the currency strengthened against all but one of its G10 peers. Traders are now expecting that the US central bank will hike rates more quickly than previously anticipated.
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July 14, 2022
EUR/USD 1.0002 GBP/USD 1.1801 USD/CAD 1.3183 AUD/USD 0.6701 USD/JPY 139.03 USD/CNH 6.7627 USD/ILS 3.4922 USD/MXN 20.9398 USD/CHF 0.9851 USD/INR 79.8788 USD/BRL 5.4634 USD/SGD 1.4067 USD/DKK 7.4386 USD/SEK 10.6014 USD/NOK 10.2557
The greenback strengthens versus all of its G10 peers except for one following a data release that showed inflation increased more than expected. Investors are expecting the Federal Reserve to hike rates at a faster pace given this data release.GBP
Sterling weakens on broad US dollar strength. Another driver for the currency is the ongoing Conservative Party leadership contest. GBPUSD is down 0.4% trading around 1.1830.EUR
EURUSD fell 0.5% as Italian bonds decline. Next level of support for the currency pair is at YTD low of 0.9998.CADUSDCAD is trading 1.3% higher as WTI falls 2.2%. The Canadian dollar weakened amidst broad USD strength following inflation data out of the US.ASIA/PACIFIC
The Japanese yen slipped to a fresh 24-year low amidst broad USD strength. The Jobless rate out of Australia dropped and pushed the currency higher.
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