US Dollar flattens after soft CPI does not change intraday's narrative
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is little changed on the day after the United States (US) Consumer Price Index (CPI) release for February. Both yearly and montly numbers for the core and headline inflation came in below expectations, which means that inflation was still slowing in February ahead of the tariffs US President Donald Trump imposed at the start of March.
On the geopolitical front, China again vowed to retaliate on US tariffs. Meanwhile, Europe is set to issue countermeasures on April 13, European Union (EU) leader Ursula Von Der Leyen said this Wednesday. Overnight headlines emerged on the Ukraine-Russia war, where a ceasefire truce is on the table after Ukraine agreed to a brokered deal by the US. The ball is now in the court of Russia to support or refuse it.
Source : Fxstreet