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Why every little bit of US data is having a big impact on EURUSD

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The latest US CPI numbers have come out and EURUSD dropped around 0.7% initially. Another sign of how every scrap of US data is having a greater influence on forex markets given the Fed's reluctance to raise rates.

Saxo Bank's Head of Macro Strategy, Mads Koefoed, highlights the impact of the latest CPI data and what effect these new numbers may, or may not, have on the Fed's rate rise timetable.