EROTF - Is A 0.3% Miss On Headline CPI Really Worth A 77 BP Rise In The December Fed Funds Yield?

• Better-than-expected Chinese data and an unscheduled ECB meeting are the highlights ahead of the North American session that features the May US retail sales report and other high frequency data before the outcome of the FOMC meeting.
• Today's data dump showed that the Chinese economy began recovering last month from the disruption caused by the zero-Covid policy.
• The dollar edged up to a new multi-year high late yesterday to reach almost JPY135.50. The upticks were extended marginally to JPY135.60 in early Asia turnover before sellers emerged.

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