XE Market Analysis: Asia – Jun 12, 2019

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The Dollar came under pressure early in N.Y. trade on Wednesday, following a cooler core U.S. CPI outcome. The CPI print kept potential Fed rate cuts front and center, weighing on the Greenback generally. Later, a round of USD short covering stepped in, taking the DXY to highs of the week at 96.97, up from early lows of 96.59. EUR-USD topped at 1.1340, later falling to 1.1290, while USD-JPY ranged between 108.26 and 108.54. USD-CAD rallied over 1.3320 from 1.3274 lows as oil prices stayed down, while Cable peaked at 1.2759, later dropping under 1.2685.