US CPI (May) came in a tick weaker than forecast at 1.8% y/y (Core CPI printed at 2.0% y/y). Despite traders increasing bets on a Fed rate hike this summer, the US dollar was among the strongest major currencies today, along with the yen.
GBP traders were nonplussed by PM frontrunner Boris Johnson’s speech this morning.
The Aussie was the weakest major currency on the day.
WTI fell 4% today to close near 51.00, its lowest level in five months, after an unexpected buildup in inventories. See “4 Reasons Oil is Tanking” for more.