USD pairs eye US CPI: 0.6% m/m jump expected as Treasury yields stay high
The source reports no currency price move, pip figure or technical levels. The focus is the US CPI report due later today. Treasury yields threatened multi-decade highs over the past week, which raises the stakes for the release. Consensus expects headline inflation to rise 0.6% on the month, lifting the annual rate to 3.6%. The source describes that print as 'rather ugly.' Because a hot reading is already the consensus, the central question is whether markets will react much at all. The data's significance lies in its potential bearing on the Federal Reserve's rate hike plans. For traders, the dollar's reaction may depend less on the headline itself and more on whether the figures differ from these expectations. Elevated Treasury yields add a backdrop of sensitivity to inflation news.
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