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EUR/USD extends its decline on Tuesday, trading around 1.1190, down 0.28% on the day at the time of writing. The pair slips below the psychological 1.1200 level following the release of stronger-than-expected United States (US) inflation data, which reinforces expectations of further monetary tightening by the Federal Reserve (Fed) and supports the US Dollar (USD). The US Consumer Price Index (CPI), published by the Bureau of Labor Statistics (BLS) on Tuesday, rose 0.4% MoM in October, exceeding market expectations of 0.3%, although slowing from September's 0.6% increase. Meanwhile, the Core CPI, which excludes volatile food and energy prices, increased 0.3%, above forecasts of 0.2% and matching the previous month's reading.
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