Daily Alert: US inflation whipsaws NZD/USD

  • Stronger-than-expected US inflation figures whipsawed inflation-obsessed US markets overnight
  • Investors initially took fright at the stronger US headline inflation print (0.3% m/m vs. 0.2% expected), with a range of (arguably more important) core measures also beating expectations
  • Comments from Atlanta Fed President Bostic appeared to line up with market expectations of at least two more consecutive 50bps hikes in the Fed Funds rate

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