Day: October 13, 2017

Dollar Dropped like Hot Potato After Core CPI Disappointed

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  The dollar was bid before the US economic data. The market responded quickly upon seeing the disappointing 0.1% rise in core CPI. Given the base effect, the 0.1% increase kept the year-over-year rate at 1.7% for the fourth consecutive month.  The dollar reversed lower.   Retail sales were largely in line with expectations.  The 1.6% headline …

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Sterling Extends Yesterday’s Recovery; US Data Awaited

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The EU’s leading negotiator whipsawed sterling yesterday.  The net effect was to ease fears that the UK would leave the EU without the agreement  Initial concerns that the negotiations had stalled sent sterling to nearly  $1.3120   The willingness to discuss a two-year transition period spurred sterling’s recovery.  After trading on both sides of Wednesday’s range, it …

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