Dollar extends post-CPI gains
EUR/USD is making fresh lows on the day, down to 1.1460 while GBP/USD has slumped to its lowest since December last year in a drop to 1.3385. Elsewhere, USD/CAD is also up to fresh one-month highs of 1.2525 and inching closer towards a test of its 100-day moving average @ 1.2537.
Meanwhile, the aussie is slumping by 0.4% to just below 0.7300 with sellers continuing the downside break this week and with there being little in the way of a test of trendline support near 0.7240 next before the September lows @ 0.7170 come into play.

Elsewhere, gold also breached key technical resistance above $1,830-34 as buyers look set for a potential breakout towards $1,900.
Asian session sees GBP strength across the board with AUD weakness with Secondary strength in USD & weakness in NZD.

ECB rate moves:
Eonia futures for the September 2022 meeting is now fully pricing in a 10 bps move by the ECB, after having earlier this week positioned for a move in December 2022 instead; the latter is now seeing a 20 bps rate hike priced in.
This comes after we saw the bets taper over the past week or so as bond yields lowered but everything is begining to turn again now after the hot US CPI data yesterday.

ANALYSIS– Yesterday, the USD got pumped at the expense mainly of GBP & EUR. We are seeing a slight reversal in these flows with Commodity FX weakness with mixed Risk on flows.
IN CONCLUSION– US Market holiday today with soft AUD data already out and GBP GDP to come. Given the above & the fact that Equities are showing a slight bounce it looks likely that the USD will stay strong.