BREAKING: USD strengthens as inflation surges

The widely watched US CPI inflation for June has just been released and showed a massive acceleration in price growth, raising further concerns that high inflation will last longer than expected. The data came in above expectations as the headline inflation remained rose to 9.10% YoY in June vs expected 8.8% YoY and compared to 8.6% in May. The Core CPI figure came in above consensus estimate as well as it amounted to 5.9% YoY vs exp. 5.7% YoY and compared with 6.0% YoY in previous month.

EURUSD fell sharply and is approaching parity. Source:xStation5

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