Cooler US inflation gives markets a bit of a breather

The US inflation pulse stole the spotlight yesterday, as the June CPI report came in softer than anticipated. In case you missed it: US June CPI 3.5% vs 3.8% expected Despite what the headlines might suggest, the drop in June owes much to a marked fall in gasoline prices. Month-on-month CPI inflation fell by 0.4%, which was the biggest monthly drop since Ma…

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