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US CPI pretty much as expected, but dollar slides -check out the EUR/USD now

The April US CPI (Consumer Price Index) has just been released. The monthly data was expected to show an unchanged rise of 0.4% last month. It has risen by 0.3%  The annualised rate was forecast to rise by 3.4%, compared to 3.5% in March. That has risen by 3.4 as expected. The core annualised rate was also forecast to drop back from 3.8%, to 3.6% and it has also matched expectations. The latest retail sales data for April was also released at the same tome and that has shown no growth at all: sales were flat last month against an expected rise of 0.4%. The reaction across the markets have seen the dollar fall back markedly. The EUR/USD has spiked above 1.0865 as US yields fall on this news. The reason for this is seemingly due to relief in the markets that the CPI data was not higher. 

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