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Dollar index (USDX) waiting at lower levels on US CPI data
On Monday the Dollar index (USDX) did rise above the 110 handle for the first time since November 2022. The index reached 110.17 and of course that coincided with a fall to 1.0178 in the EUR/USD. However, since then the index has been falling back, but so far the 109 handle has remained intact. The US CPI due out later today (1.30pm GMT) could decide if that remains the case, or not. The low since the high has been set earlier today at 109.15. The drop back in the USD/JPY just now today is not doing it any favours this morning, but as usual it is the EUR/USD price action which matters the most in terms of overall direction for the index. The index is just now trading at 109.20
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