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US Dollar Forecast: Greenback Takes Aim at FOMC After Weak Retail Sales
A much hotter-than-expected consumer price inflation (CPI) print roiled markets and saw a wave of strength carry the Greenback higher last week. However, a softer-than-expected retail sales print sapped strength into the weekend. An uptick in consumer inflation expectations through the University of Michigan’s consumer confidence survey did little to revive the USD. Taper talks suggesting the Federal Reserve may have to tighten policy sooner than the markets initially believed injected last week’s run. Markets priced in a less dovish path for the Fed, assuming that the higher inflation print will continue into ... (full story)