HONG KONG, Aug 11 ― The euro and Japanese yen were sitting pretty this morning after US inflation data overnight came in less hot than feared and sent the dollar tumbling.
The euro was at US$1.0297 this morning, after jumping 0.84 per cent the day before, its biggest daily percentage gain since mid-June. “The surprise downward move takes out much of the fear that the market had of a 75bps Fed hike or even inter-meeting moves,” they wrote in a note.
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