With the US CPI for December in-line with expectations at 7%, traders took the opportunity to unload some of their long US Dollar positions. As mentioned earlier in the CPI recap, the DXY had been trading sideways in a range between 95.50 and 97.00 since mid-November. On the release of the CPI print, the US Dollar Index moved sharply lower and is currently testing support at the bottom, rising trendline of the long-term channel it has been in since May 2021. Watch to see if the 94.90 level can hold. (For support and resistance levels in the DXY see the CPI recap) {chart} One of the beneficiaries of a move lower in ... (full story)