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EURUSD: Daily Analysis & Setup update

The U.S. dollar rose in choppy trading on Tuesday, after data showed hotter-than-expected inflation last month for the world’s largest economy, slightly paring back expectations of an interest rate cut by the Federal Reserve at its June policy meeting.

It was a volatile session, with the U.S. dollar initially jumping after the data, then falling and eventually rising after the market digested the report. The dollar index was last up 0.2% at 102.95 DXY.

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