US Pres. Biden: Seeing some signs of inflation moderating

US President Joe Biden said on Wednesday that they are seeing some signs that inflation may be moderating, as reported by Reuters.
"We could face additional headwinds in the months ahead," Biden added. "We still have work to do but we're on track."
Earlier in the day, the data published by the US Bureau of Labor Statistics showed that the annual Consumer Price Index (CPI) declined to 8.5% in July from 9.1% in June.
Market reaction
The greenback struggles to find demand following soft inflation data and the US Dollar Index was last seen losing 1.2% on a daily basis at 105.00.
Author

Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

















