U.S. Dollar Index Falls 0.654% to 100.617 on Weaker-Than-Expected June CPI, July 14

CME-0.26%
According to Yonhapinfomax, on July 14 at 8:47 AM ET, the U.S. dollar index (DXY) fell 0.654% to 100.617 after the U.S. Labor Department reported that June consumer price index (CPI) declined 0.4% month-over-month, significantly below market expectations of -0.1%. Core CPI, excluding volatile food and energy, came in flat versus the expected 0.2% gain. The weaker inflation reading triggered a sharp decline in U.S. Treasury yields, with the 2-year yield dropping over 10 basis points. According to CME FedWatch, markets are now pricing in an 83.4% probability that the Federal Reserve will hold rates steady this month, up 25.1 percentage points from the previous day.
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