Inflation tick higher swamps euro and pound
A slight beat on inflation is helping the US dollar put a beating on the market.
The dollar has held a bid all week despite dovish comments from Brainard and a weak retail sales report. So it's not a shock to see it rallying on a small dose of good news.
EUR/USD is now down 60 pips since the report at 1.1170 with the pound falling by about the same margin and down to 1.3108. It's been a tough stretch for cable with the early September gains now erased.
It's not just the euro and pound either, the dollar is grabbing an increasing bid right across the board.
