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Dollar loses ground across the board after US CPI- FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the USD fell against other currencies following the release of disappointing US CPI data for August.

Key quotes

"But market movements remain limited ahead of FED economic policy decision later on the day."

"The EUR/USD retraces from a high of 1.2980 finding short term sellers on approaches to the 1.3000 figure."

"The 1 hour chart shows no directional strength coming from technical readings as it has been over the past sessions, with all eyes now placed on the outcome of the FED meeting."

"Levels to watch then will be 1.3000 figure to the upside, or 1.2880 to the downside as a break of either extreme will likely set the trend for the upcoming days."

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