U.S. Dollar Soars After CPI Data Boosts Fed Outlook, Impacting EUR, JPY, GBP, and CAD
The U.S. dollar surged past key resistance after April’s CPI data showed steady inflation, fueling optimism about Fed policy stability. This shift pushed EUR/USD below support, strengthened USD/JPY amid yield declines and solid GDP, pressured GBP/USD amid Brexit concerns, and lifted USD/CAD due to softer oil prices. Forex traders should watch these technical levels closely as the dollar’s bullish momentum reshapes currency trends.
