ForexLive Americas FX news wrap: US dollar shrugs off soft CPI report

Author: Adam Button | Category: News

Forex news for North American trade on June 12, 2019:

Markets:
  • Gold up $6 to $1333
  • WTI crude down $2.19 to $51.08
  • US 10-year yields down 2.4 bps to 2.12%
  • S&P 500 down 6 points to 2880
  • USD and JPY lead, AUD lags
The market has moved past the Mexico tariff drama and begun to focus on the risks around an escalation in the US-China trade war. That led to a pullback in risk assets Wednesday and strength in USD and JPY.

The main headline on the day was US CPI and it was on the soft side. The dollar dumped a dozen pips initially but battled right back. That was a tell as it was a one-way run higher from the dollar from there, especially against the euro and commodity currencies.

The pound was hit by the failure of the Brexit vote in parliament that would have taken a no-deal Brexit completely off the table. Conservatives closed ranks and now that will continue to be the dominant talking point in the UK leadership race, even if it's an extremely remote outcome.
Forex news for North American trade on June 12, 2019:
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