XE Market Analysis: North America – Sep 17, 2018

The Dollar has come under moderate but broad pressure. EUR-USD lifted back above 1.1650, gaining about 30 pips on the day amid a bout of general dollar weakness. Last week’s sub-forecast U.S. CPI data, which followed more benign than anticipated PPI figures the day before, has continued to have some resonance, although reports that President Trump will in the coming days announce his decision to proceed with tariff hikes on $200 bln worth of Chinese imports is a potential dollar-support event. If and when confirmed, the tariff hike would mark a major escalation in the Sino-U.S.