US headline CPI accelerated to 2.8% yoy in May, up from 2.5% yoy and beat expectation of 2.6% yoy. The headline number is the fastest in six years since 2012. Core CPI also accelerated to 2.2% yoy, up from 2.1% yoy and met expectations.
Nonetheless, reaction in the US Dollar is rather muted. It’s continuing to trade mixed for the day.
In the currency markets, Swiss Franc are the strongest one, followed by New Zealand Dollar and then Euro. Yen is the weakest, followed by Canadian Dollar and Sterling. It’s a typical day with direction.
