0003 GMT - The USD index is currently trading just below 108 points, roughly where it was just over 24 hours ago. It initially rose sharply because the U.S. CPI for January was stronger than expected on both the headline and core measures. However, USD unwound its increase later in the session helped by news that U.S. President Trump and Russian President Putin have agreed to start negotiating an end to the war in Ukraine, says Kristina Clifton, economist at CBA. Markets have pushed out the timing of the next FOMC interest-rate cut even further to December, compared to September before the CPI release, she notes. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
February 12, 2025 19:06 ET (00:06 GMT)
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