Cooler CPI Triggers US Dollar Weakness

Perhaps most importantly, the cooler CPI has triggered weakness in the US Dollar (DXY), which we see has pierced beneath its 9 month up trendline (109.50), threatening to press to next key support at 107.50-108.00, or another 2% lower as a near term target, which will exert tailwinds on commodities in particular, but also on bonds and equity markets too (until they diverge for other reasons)...

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