Federal Reserve President Jerome Powell made comments yesterday at the Senate Banking Committee that the central bank will do what’s necessary to contain inflation and delay the expansion. The US dollar fell towards two-month lows ahead of inflation data which was released as expected at 7.0%. This is higher than last months release at 6.8%, which is already the fastest in almost 40 years.
January 12, 2022
EUR/USD 1.1411 GBP/USD 1.3685 USD/CAD 1.2519 AUD/USD 0.7258 USD/JPY 115.09 USD/CNH 6.3629 USD/ILS 3.1037 USD/MXN 20.3551 USD/CHF 0.9192 USD/INR 73.9175 USD/BRL 5.5595 USD/SGD 1.3486 USD/DKK 6.5228 USD/SEK 8.9758 USD/NOK 8.6964
Inflation data out of the US released this morning showing that YoY inflation came in as expected at 7.0%. The Bloomberg dollar index is down 0.2% and the greenback is trading around two-month lows.GBPSterling is trading higher than US dollar on broad market trends. A report out of the UK cut estimates for population growth through 2030 stating that a majority of the growth will be from immigration.EUREURUSD hit above 1.14 trading at highest levels since November.CADThe Canadian dollar strengthened towards November high alongside stronger oil prices. WTI crude futures are trading 0.3% higher at $81.46 per barrel.ASIA/PACIFICUSDJPY remains largely unchanged. Australian dollar is trading higher as iron ore prices hit 3-month high.
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