There were no fireworks for the U.S. dollar today despite the biggest jump in U.S. inflation since August 2008. Normally, the greenback would spike on a sharp rise in consumer prices but it ended the day lower against most major currencies. A hot CPI report was widely anticipated but also consistently downplayed by Federal Reserve officials. Still the Fed meets next week and today’s report escalates the growing concern about the central bank’s complacency and the danger that inflation will not fall as readily as they anticipate. While the 5% year over year increase in prices will force the Fed to upgrade their ... (full story)