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USD Soars on Hot CPI Data and Iran Uncertainty, EURUSD Tumbles

Reuters Read original source (opens in a new tab)
The Story

News Summary

  • US inflation rose to 3.8% year-on-year, exceeding expectations and prompting markets to price out Fed rate cuts while increasing odds of a December hike.
  • Safe-haven dollar strength was further supported by Iran ceasefire uncertainty.
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Stored market data

EURUSD price history

1.15 -1.71% over the displayed period

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