US headline CPI slowed to 1.9% yoy in December, down from 2.2% and matched expectations. Core CPI was unchanged at 2.2% yoy, matched expectations too. Full release here.
Dollar release the weakest one for today and the week as Fed officials emphasized “patience” before the next rate move. In particular, as Fed Chair Jerome Powell said yesterday, “especially with inflation low and under control, we have the ability to be patient and watch patiently and carefully as we”. Today’s CPI readings don’t express any objection to Powell’s line of logic.