As we’ve expected, the whole rate hike argument collapsed this morning. CPI, Core CPI and retail sales all missed. The Fed will continue talking up the dollar, of course. But, it isn’t looking good.
The US dollar is, predictably, tumbling — taking USDJPY along with it.After nailing our downside target yesterday and rebounding nearly all the way to our bounce target, equities are currently indicating a slight loss.
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