UDN - Sterling Buoyed By Labor Market Report Ahead Of U.S. CPI

2024-02-13 07:40:00 ET

Summary

• The US dollar is enjoying a mostly firmer bias ahead of today's CPI report.
• Sterling is the strongest among the G10 currencies after a more-resilient-than-expected labor market report.
• EM currencies are mostly faring better, with the Mexican peso and Polish zloty being notable exceptions nursing minor losses.
• The Nikkei set new 30-year+ highs and at one point rose 3% today, before settling up nearly 2.9%. It is about 2.5% away from a record high.
• Europe's STOXX 600 is giving back around half of yesterday's 0.55% gain. US equity index futures are trading lower.

Overview

The US dollar ( DXY , USDOLLAR ) is enjoying a mostly firmer bias ahead of today's CPI report. Sterling is the strongest among the G10 currencies after a more-resilient-than-expected labor market report. The dollar extended its gains against the Japanese yen to a new high since last November, but the market seems cautious as it approaches JPY150, where large options expire today. On the other hand, emerging market currencies are mostly faring better. The Mexican peso and Polish zloty are notable exceptions and are nursing minor losses....

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