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Dollar May Snap Lower Immediately After CPI Data

Courtesy of ZeroHedge View original post here.

By Nour Al Ali, Bloomberg Markets LIve commentator and reporter

Watch out for a non-textbook surprise in the dollar just after U.S. inflation data hits. In the past 12 months, CPI has mostly come in hot — yet the BBDXY has fallen more often than not. That probably runs counter to the belief that the U.S. currency should rise on a high reading as it steers the Fed toward faster rate hikes.

The one time CPI surprised on the downside in January, the dollar fell 0.2% in the first thirty minutes after the data. Here’s a breakdown of the numbers:

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