Dollar weakens after CPI shows cooling inflation; yen firms on BOJ talk

The dollar weakened against major peers after cooler-than-expected data eased fears that inflation was accelerating and increased the chances the Federal Reserve could cut interest rates twice this year. The Bureau of Labor Statistics showed consumer prices rose 2.9% in the 12 months through December, in line with economists’ expectations.

The Dollar-Yen pair dropped 0.9% in the last session. The CCI indicates an oversold market.
Support: 153.48 | Resistance: 159.84