Swiss CPI was released earlier today, marking a steady 0.0% as expected but lower than the previous month's 0.1% rise.
The weak Consumer Price Index news released is an important indicator of overall inflation to forex market traders. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;
After the Swiss CPI was released, the U.S Dollar slid downwards, after a very slight correction, to trade at 0.8336 from 0.8348 within minutes. Currently, the pair is trading even lower, at 0.8329.
The European currency became slightly volatile, as it jumped from the prior-to-news price of 1.2214 to 1.2227; then dropped to 1.2204, only before recovering to 1.2227 again. The pair is not steady between 1.2222 and 1.2229.
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