Dollar dips to two-month lows on U.S. inflation data rattles dollar traders
The dollar fell against almost all G10 currencies.
U.S. inflation data will be in focus on Wednesday.
The US dollar index continued to move lower and started to enter the orbit around 101.00.
The dollar was in the red against all major currencies. While there are no real outliers worth noting, it is worth noting that the USD/PLN, the Swiss Franc (USD/CHF) hit one-year lows, and the EUR/USD traded close to one-year lows. year high. This sent the US dollar index down for the fifth time in a row and began to move closer to 101.00.
An important event on the economic calendar this Wednesday is the US Consumer Price Index (CPI). Amid all the monthly and annual data, core inflation will be in focus. Looking at recent services sector data, core inflation is expected to remain around 5%, with any lower figure triggering further dollar weakness.