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US dollar bears pile in despite red hot inflation, eyes on 110.00 as the box breaks down
As measured by the DXY index, the US dollar has been a mixed bag on Thursday, initially rallying on the back of the red-hot US inflation data only to fall into the hands of the bears, dropping by 1% to almost 112.14 as risk sentiment returned to markets. At the time of writing, the DXY index is down by some 0.66% having fallen from a high of 113.92 to a low of 112.147 so far. First off, US inflation eased less than expected in September to 8.2%, and underlying prices excluding energy and food prices accelerated to a new four-decade high. US CPI (MoM) Sep: 0.4% (est 0.2%; prev 0.1%). US CPI (Y0Y) Sep: 8.2% (est 8.1%; ... (full story)