Forex: Dollar eases after US CPI, weekly claims

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FXstreet.com (Barcelona) - The Dollar has eased moderately against its main rivals after an initial upside reaction, following the release of US Consumer Prices Index, and jobless claims figures, which rose above expectations in the week of February 12.

EUR/USD dropped initially from 1.3560 to 1.3545 to bounce up to 1.3590 resistance area. GBP/USD dropped from 1.6130 to 1.6115,and bounced up later to 1.6145 to test day high, while the USD/JPY bounced about 15 pips to 83.85, to dip afterwards to day low at 83.40.

US CPI rose at a 0.4% pace in January, slightly above the 0.3% expected, and 1.6% year on year, while the Core CPI accelerated 0.2% on the month and 1.0% year on year, while the market consensus was 0.1% and 0.9% respectively.

US Initial jobless claims increased by 25K to 410K on the week of Feb 12, from upwardly revised 385K on the previous week. The market consensus had called for a 15K increase to 400K.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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