Mitsubishi UFJ: Strong US inflation data in August may boost the US dollar

On September 10, Jin10 Data reported that Lee Hardman, an analyst at Mitsubishi UFJ Financial Group, said that if Wednesday's U.S. inflation data showed unexpected rise in August price pressure, the dollar could rise. Hardman said it was important that the data was consistent with the slowdown in inflation to support expectations of a current Fed rate cut. He said that although the strong inflation data for August would not prevent the Fed from cutting interest rates next week, it would further raise doubts about the size of the aggressive easing currently being digested by the Fed and bring upward risk to the dollar.