The US dollar takes another blow
Just when you thought US data couldn't get any more disappointing, it finds a way. CPI and retail sales both missed estimates despite continued good jobs and sentiment data. The softness is in contrast to the relentless optimism from the Fed.
On the heels of the headlines, USD/JPY dropped to 111.35 from 113.04. That's the lowest since July 2 and helps to solidify a double-top on the USD/JPY chart.
Right across the board the dollar is under pressure.
