US Dollar Remains Under Pressure After Soft US CPI and PPI Data – ING
The US dollar continues to weaken following softer-than-expected US CPI and PPI data, according to ING strategists. FX volatility is declining while Brent crude oil prices remain around current levels.
ING strategists Francesco Pesole, Frantisek Taborsky, and Chris Turner note that the US dollar remains under pressure following softer-than-expected US CPI and PPI releases.
FX volatility has declined as the dollar loses ground, with Brent crude oil prices stabilizing around current levels. The analysts point to a sustained weakening trend for the greenback amid the recent data disappointments.
No specific levels for Brent were provided in the note, but the ongoing softness in inflation figures continues to weigh on dollar sentiment.
Source: FXStreet Forex News