USD – The dollar fell on Wednesday after US inflation data showed consumer price increases eased in July, taking some pressure off the Federal Reserve to begin scaling back the monthly bond purchases that are part of its toolbox to support the economic recovery.
However, BK Asset Management argues that “the CPI report was enough to cause a bit of profit taking for the US dollar, but at the end of the day, it’s not a game changer for the Fed. They’re still going to be announcing taper, likely within the next six weeks.”
However, BK Asset Management argues that “the CPI report was enough to cause a bit of profit taking for the US dollar, but at the end of the day, it’s not a game changer for the Fed. They’re still going to be announcing taper, likely within the next six weeks.”