The June USA inflation indicators were published last Friday. The main CPI index growth rate slowed to 0.3% m/m and accelerated to 0.1% y/y vs. 0.4% m/m and 0.0% y/y in May. This basic inflation level registered dynamics exactly in line with expectations (+ 0.2% m/m and 1.8% y/y). Obviously, the US price pressure is not clearly growing at the rate that would require the interest rates sharp increase, so the macro statistics has remained virtually unnoticed by the bulls within the dollar.
Yesterday the pair EUR/USD slightly corrected. Earlier the pair decreased. Traders sold the euro after the US inflation moderately positive data.
During the day the pair GBP/USD was trading in a flat. The pair EUR/GBP sales saved the British pound from the bears' "onslaught". However, the pair slightly fell.
After a slight growth during the day the pair USD/JPY was trading in a narrow flat amid the long positions profit taking in the world leading stock markets which restrains the US dollar quotations growth.Publication source