Dollar rises strongly in early US session after CPI data. Headline inflation reaccelerated with strong rise in energy and food prices From this perspective, there is little scope for Fed to pause tightening in September. It might instead continue its 50bps per meeting plan for longer. The greenback is now the strongest one for the week, followed by Sterling. Swiss Franc is the worst performing, followed by Yen. Euro is mixed despite ECB's clear hawkish stance while Aussie is weighed down by risk-off sentiment. Technically, GBP/USD's break of 1.2429 minor support is another evidence of Dollar strength. One focus before the end of the week would be 0.7034 minor support in AUD/USD. Also, there is some knee jerk actions in Gold, which breached 1828.29 support briefly. Attention will also be on whether Gold's selloff will come back quickly on Dollar strength, and break through 1828.29 firmly. In Europe, at the time of writing, FTSE is down -1.61%. DAX is down -1.69%. CAC is down -1.90%. Germany 10-year yield is down -0.0113 at 1.421. Earlier in Asia, Nikkei dropped -1.49%. Hong Kong HSI dropped -0.29%. China Shanghai SSE rose 1.42%. Singapore Strait Times dropped -0.87%. Japan 10-year JGB yield rose 0.0038 to 0.254. | 