The dollar is losing ground (-0.2% based on the $-Index, which fell back below 104 to 103.88) after the publication of an "unsurprising" US price index.
This was potentially the most important figure of the week, but the US CPI proved to be a "non-event".
One of the 'facts of the day' was the heavy fall in oil late in the afternoon: -3.3% to $73.6 for Brent crude... but this did not provoke the traditional symmetrical rise in the greenback.

Energy prices continued to ease last month, allowing inflation to stagnate as expected in November, suggesting a more accommodative approach from the FED.

Core CPI was stable at 4.00%, while gross CPI stood at 3.1% (+0.1% in November).
Following these figures, investors estimate the probability of a quarter-point rate cut in March (to 5.00/5.25%) at around 44%, according to CME Group's FedWatch barometer, compared with around 42% yesterday.

The FOMC is expected to leave interest rates unchanged tomorrow, but its statement could provide some valuable clues as to its rate intentions.

The euro recovers 0.3% against the $ towards 1.0795, the yen +0.4% towards 145.5, the Swiss franc +0.3% also towards 0.8755.
The pound, on the other hand, stagnates towards 1.2550, while the BoE is expected to leave its rate unchanged on Thursday.

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