It was a positive session for the US dollar yesterday, rising 0.36 percent; however, the US dollar index is falling 0.33 percent this morning. The consumer price index month to month came in at 0 percent, which was the same as expected, while the previous month was at 0.3 percent. At the same time, the core consumer price index came in at 0.2 percent, which was also the same as expected, while the last month was at 0.2 percent. There were no surprises.
Global stocks experienced gains this morning on a fresh wave of trade optimism and climbing oil prices, shrugging off a leadership challenge against U.K. Prime Minister Theresa May. This "risk on" mood in financial markets is also weakening the US dollar this morning.