USD Index gives away gains and drops to 101.40 on soft CPI – by pabspiovano DollarIndex Currencies Majors CPI Inflation
US yields reverse the multi-day recovery across the curve.The greenback sets aside two daily gains in a row and returns to the 101.40/30 band when tracked by theThe index rapidly gives away earlier gains and recedes to the negative territory soon after US inflation figures printed another soft readings in April.climbed 5.5% over the last twelve months. On a monthly basis, both gauges rose 0.4%.
Earlier in the session, MBA Mortgage Applications expanded 6.3% in the week to May 5. Later in the NA session, April’s Monthly Budget Statement will close the daily calendar.The index now loses momentum, as earlier gains evaporate on the back of softer-than-expected US inflation prints for the month of April.
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