Dollar Mixed After Headline Inflation Slows

The US dollar was mixed following the release of an inflation report. Market analysts were still bearish on the currency, saying that there are not many factors that will support the greenback over the long term.
The Bureau of Labor Statistics reported that the Consumer Price Index fell 0.1% in December, month-on-month, after showing no change in November. Year-on-year, consumer inflation slowed to 1.9% from 2.2% in the previous month. Core inflation remained unchanged at 0.2% month-on-month and 2.2% year-on-year. All indicators matched economists’ predictions.
Federal Reserve Vice Chairman Richard Clarida was speaking yesterday, echoing the sentiment of Fed Chair Jerome Powell about patience in deciding about timing of the next monetary policy adjustment. Clarida said:

I believe we can afford to be patient about assessing how to adjust our policy stance to achieve and sustain our dual-mandate objectives. We begin the year as close to our assigned objectives as we have in a very long time. In these circumstances, I believe patience is a virtue and is one we can today afford.

EUR/USD fell from 1.1499 to 1.1480 as of 18:10 GMT today. GBP/USD jumped from 1.2742 to 1.2854. USD/CHF declined from 0.9842 to 0.9832.

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Original from: www.earnforex.com