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US CPI hotter than expected on all counts- Dollar jumps as EUR/USD slides below 1.0325
The January US CPI report has just hit the screens. As noted here earlier, the markets were looking for a slightly higher reading last month, but unchanged on an annualised basis (2.9%). The core annualised rate was expected to decline slightly, to 3.1% from 3.2%. Well, it has just been released at 3.3%. The monthly rate was at 0.5% and the annualised rate is also higher, at 3%. The reaction in the dollar was instant. The USD/JPY has jumped above 154 and the EUR/USD has fallen back below 1.0325. Gold has crumbled on this news too. The EUR/USD is right now at 1.0326
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