RFEU - Narrow Ranges For The Dollar Prevail Ahead Of Tomorrow's U.S. CPI

2024-07-10 07:00:00 ET

Summary

• The dollar is mostly softer today, but largely within the recent ranges, as the market appears to be waiting for tomorrow's US CPI.
• A less hawkish Reserve Bank of New Zealand has triggered a sell-off of the local dollar.
• Global equities are mostly firmer following another record high in the US S&P 500 and Nasdaq.

Overview

The dollar ([[DXY]], [[USDOLLAR]]) is mostly softer today, but largely within the recent ranges, as the market appears to be waiting for tomorrow's US CPI. There are a few exceptions to note. The yen is trading near its recent lows. A less hawkish Reserve Bank of New Zealand has triggered a sell-off of the local dollar. Softer-than-expected Norwegian inflation has knocked the krone lower. Most emerging market currencies are firmer, with several Asia Pacific currencies bucking the move, including the Chinese yuan and the South Korean and Taiwanese dollars. The Mexican peso leads the advance with a 0.6% gain, and it is trading at its best level in a little more than a month....

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