US Inflation Turned Positive as Drags from Oil Faded
BettieGTTmgvUS inflation returned to positive territory in February after contracting over the past 3 months. The greenback rebounded after the release as the details suggested that the drag from energy prices is fading. USD's strength was also driven by strong US new home sales which jumped +12.1% m/m to 539K in February, and San Francisco Fed President John Williams said that the US economy was strong enough to manage the strong USD.
