BREAKING: USD weakens as CPI inflation surges to highest level since December 1981

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The widely watched US CPI inflation for March has just been released and showed a massive acceleration in price growth as energy prices remain elevated, raising further concerns that high inflation will last longer than expected. The data came in line with expectations of 8.5% YoY and compared to 7.9% in February. It is the highest level since December of 1981. The Core CPI figure amounted to 6.5% YoY vs exp. 6.6% YoY and compared with 6.4% YoY in February.

EURUSD rose sharply and is testing resistance level at 1.0875. Source:xStation5

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