Quotes from Lloyds Bank:
-Having seen the USD come under pressure despite a relatively neutral tone from Yellen at her testimony to the Senate earlier this week, US data this afternoon has potential to prompt further USD weakness with headline CPI expected to fall into negative territory.
-While the market may see through this as temporary (given recent comments from the FOMC), the core print will have to hold firm to stave off further downward pressure on USD. For EUR/USD, 1.1260-1.1450 marks the near-term range.
