The USD's faltering performance amid this environment of uncertainty is emblematic of the broader concerns surrounding mounting inflationary pressures and their potential implications for the financial landscape.
Notably, the yield on the benchmark 10-year US Treasury bond has experienced a significant downturn, with a decline exceeding 2%. This movement in the bond market is reflective of shifting expectations surrounding the Federal Reserve's monetary policy outlook.
Particularly noteworthy is the substantial decrease in the probability of the Fed maintaining its policy rate unchanged in September, plummeting from 35% to approximately 25% in the aftermath of the inflation data release.
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