Markets were dominated by inflation overnight, with the US number coming in hotter than expected, raising bond yields and strengthening the US Dollar. The US CPI jumped 0.4%, higher than expected for October, prompting the Federal Reserve Chairman Waller to call for a December rate rise. This triggered markets, sending equities tumbling and boosting the US Dollar. The safety of the US Dollar cut the EUR to 1.1150, while the GBP tumbled to 1.3300.The rising reserve hit commodity currencies, halting their recent and brief recovery. The NZD surrendered 0.5600, while the AUD crashed to 0.6850, aided by weaker than expected Business Confidence data. Markets will focus on European inflation and growth, when numbers are released later today.
