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A hint of a USD correction was snuffed out into the close yesterday and markets are now focusing squarely on the US inflation data later today. After a disappointing close on Wall Street, US futures are looking to build support again.
A near-term shift in the outlook for the USD has induced recovery in some major forex pairs. We look at what is driving the moves and how far they could go.
Renewed upside in the oil price is helping to fuel gains for oil majors on equity markets, with indices pulling higher as a result. However, this will also stoke inflation fears once more, leaving the USD outlook mixed today.
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