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US Dollar Holding on Inflation Surprise

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#dollar #inflation

$USD $JPY $EUR $GBP $CHF $AUD

USD held gains Thursday, supported by higher Treasury yields after a surprisingly strong rise in US consumer prices fueled fears about an increase in inflationary pressure.

Traders will now turn attention to US weekly jobless claims due later Thursday and retail sales numbers Friday for guidance on whether upward pressure on prices will persist.

The Buck traded at 109.69 JPY, close to its strongest mark in 5 wks.

Vs the EUR, the Buck stood at 1.2077, holding onto a 0.6% gainer from the prior session.

GBP bought 1.4064 USDs.

The USD traded at 0.9085 Swissie, close to a 1-wk high.

The Australian dollar also held steady against its US counterpart.

Have a healthy day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.