US CPI in Focus
The US dollar rally is of historic proportions. Its climb is relentless, though there was around a 4-7% pullback for a few weeks beginning in mid-July. Since then, the greenback has made up for lost time and appreciated to multiyear highs against most of the major currencies. The first real bout of profit-taking in nearly a month seen in recent days looks corrective in nature. The different performances cannot be entirely traced to monetary policy differences, though the Japanese yen is easily the weakest of the majors, losing more than a fifth of its value this year. The BOJ is the only G10 central bank that insists
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