ACTV - U.K. CPI Disappoints
2024-05-22 07:15:00 ET
Summary
- A hawkish hold by the Reserve Bank of New Zealand and a firmer-than-expected UK CPI reading have allowed the New Zealand dollar and sterling to show resilience in the face of the US dollar's broadly firmer tone.
- US index futures are trading with a softer bias.
- The Reserve Bank of New Zealand stood pat with the cash target rate at 5.50% but sounded hawkish.
Overview
A hawkish hold by the Reserve Bank of New Zealand and a firmer-than-expected UK CPI reading have allowed the New Zealand dollar and sterling to show resilience in the face of the US dollar's broadly firmer tone. And even there, the Kiwi and pound have seen their early gains pared. The Swiss franc is the weakest of the G10 currencies today and has fallen to a new 12-month low against the euro. Emerging market currencies are mixed. Central European currencies are mostly lower, along with the South African rand and Chinese yuan. The Philippine peso is the strongest ~0.30%, after the central bank threatened to intervene yesterday, and the Mexican peso has stabilized after falling by the most in three weeks yesterday....
U.K. CPI Disappoints