The dollar is dipping after the CPI data on the assumption that the Fed will stay the course in its efforts to stabilize prices. Core CPI is at its lowest level on record…
Mid-East sellers as well as the BIS were spotted on the offer in EUR/USD in the 1.3520s last time up but there has been massive selling of EUR/USD from macro funds, CTAs, etc overnight and EUR/USD was unable to push much lower. A break of 1.3525 could see a bounce toward 1.3560 where more offers are seen.
Barriers are being defended ahead of 1.3450, traders report.
