Credit: The US dollar gives back a small portion of gains after wage numbers
The US dollar broke out against the euro and yen today, amongst others. But those moves retreated after a disappointing reading on average weekly earnings in the CPI report.
US wages rose just 0.5% compared to last year. That's far from the type of increase that will prompt the Fed to worry about inflation and force them into more aggressive rate hikes.
USD/JPY was trading at 118.10 ahead of the data and slid to 117.70 afterwards. It's still up 275 pips since the FOMC decision yesterday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
