Inflation exceeds expectations across the board, traders reduce bets on Federal Reserve rate cuts
After the announcement of the US CPI, the US dollar index DXY rose 50 points in a short line to 108.43. Spot gold fell $12 in a short line, falling more than 1.00% within the day, now reporting $2868.57 per ounce. The yield on U.S. Treasury bonds surged after inflation data was released, with the final yield on ten-year bonds rising by 6.1 basis points to 4.602%.
After the release of inflation data, traders now expect that the Federal Reserve will reduce its policy easing efforts.
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