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US dollar sinks on the biggest PPI move you'll ever see

US dollar sinks on the biggest PPI move you'll ever see

The US dollar fell hard on PPI data, at least initially.

The dollar fell upwards of 60 pips across the board when the October producer price index was at 8.0% compared to 8.3% expected. It was seen as another sign that inflation has peaked and that the Fed needn't raise rates much above 5%.

The largest move was in USD/JPY, which fell 160 pips. It's since pared about 60 pips of that.

Some in the market are focused on the divergence in the report with services PPI down 0.1% wh... Read More

Posted: Nov 15 2022, 13:51
Author Name: forexlive
Views: 102341

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