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FX choppy as markets await US inflation data
USD edged lower in, tracking sideways for a sixth straight day. Mild upside in stocks saw some selling but there was little major news. The Fed’s William later in the day said rates are high enough to cool inflation to its goal. But the Fed may have to maintain a restrictive stance for some time. EUR firmed but stuck to its recent sideways trading pattern between 1.0880 and 1.0998. ECB hawks voiced inflation concerns and that rate cuts were unlikely to come before the summer. This was in contrast to the doves the day before who reaffirmed that policy easing will come this year. GBP remained above 1.27 with comments ... (full story)