Euro gathers fresh steam and rises to new YTD highs vs. the US Dollar.
Stocks in Europe on their way to another positive close on Wednesday.
EUR/USD climbs to new highs around the 1.1100 level.
Final CPI in Spain came in below 2% in June.
US CPI surprised to the downside in June.
The Euro (EUR) regains further upside traction and advances to new peaks vs. the US Dollar (USD), lifting EUR/USD to the 1.1100 zone on Wednesday. In fact, the intense sell-off in the Greenback forces the USD Index (DXY) to retreat further and confront the YTD lows around 100.80.
In the meantime, extra upside in the pair and in the risk-associated universe in general, gathers impulse after US inflation figures showed the CPI rising at an annualized 3.0% and 4.8% when it comes to the Core CPI (prices excluding food and energy costs), both prints coming in below initial estimates and consolidating the multi-month disinflationary pressures in the US economy. READ MORE