The US Dollar continues to consolidate ahead of tomorrow’s CPI report.
Last week saw a bounce in the US Dollar from a key spot of support, and that was pushed-along by a series of comments from Fed-speakers, all of which seemed to take on a hawkish tone. Last Tuesday’s bar finished as a bullish engulfing candlestick after a test of support around the 105.00 handle, and the move continued through early-Wednesday trade, for an eventual show of resistance at the 106.82 level.
