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FX Daily: Prices back in the driving seat
Rising prices and what central banks plan to do about them should be back in the spotlight this week. In focus will be Wednesday's release of US October CPI, where inflation could be pressing close to 6% YoY. And today we'll hear from the Fed's Richard Clarida at 15CET. With energy prices on the rise again, continue to favour the dollar and energy-exporting FX. A strong October NFP released on Friday helped trade-weighted measures of the dollar retest the highs of the year, but as yet there has been no major upside breakout. As we have said previously on these pages, we suspect that if the dollar is to break to new ... (full story)