The US Core Consumer Price Index has risen by 2.4% in February, above 2.3% that was on the cards. On a monthly basis, underlying prices rose by 0.2% as expected. Headline inflation rose by 0.1% monthly and 2.3% yearly, both exceeding estimates.
The Federal Reserve targets price stability and an increase in inflation is, in theory, a reason to raise interest rates. However, investors are focused on coronavirus developments and policymakers' responses to them.
EUR/USD is trading around 1.1340, GBP/UDS around 1.2950, and USD/JPY at around 104.60 at the time of writing.
Source : FXstreet