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The Dollar has managed to hold the line after a terrible start to the week off the back of the Department of Justice's issuing of subpoenas against Chairman Jerome Powell. Familiar old arguments of Fed independence were wheeled out, only with more impetus now that Powell's replacement is imminent.
With all of this ongoing, CPI is likely to be somewhat of a damp squib, especially considering the numbers are expected to stay essentially unchanged. Instead, in this year that has already been so heavily dominated by geopolitical affairs, tensions in Iran could be the next spark that insights this tinder box market we have.
Markets Today
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Major Economic Releases (All times in GMT)
13:30 - US CPI (Dec)