[MARKET ANALYSIS] DXY is rangebound after ultimately rebounding in the choppy aftermath of the inline CPI report, while attention turns to PPI data

DXY: Flat Trades flat and sits around the 100.00 level after rebounding from the initial pressure seen in reaction to the inline July CPI report, which unwound some September rate hike bets, while the recovery was then facilitated by a rebound in the US 2yr yield, considering that a 25bps hike is still fully priced by year-end. Aside from the CPI data, there was little else to drive price action, and participants now look ahead to today's PPI release. EUR/USD: Flat Lingers around the prior day's trough after it gave up ground to the firmer buck in post-CPI whipsawing. GBP/USD: Flat Remains lacklustre after retreating beneath the 1.3500 handle and with participants awaiting UK GDP data. USD/JPY: Flat Takes a breather after yesterday's intraday rebound and return to the 159.00 territory, while there was little reaction seen to the softer-than-expected Japanese PPI data. Antipodeans: AUD/USD -0.1% / NZD/USD -0.3% Marginally weakened after recent price swings and in the absence of major catalysts, while pressure was seen in NZD/USD following softer 1yr and 2yr inflation expectations.