USD: Risk-off flows and CPI in focus – Danske Bank
By FXStreet Insights Team
Date Published: 13 Feb 2026 | Date Modified: 13 Feb 2026
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Danske Research Team notes that the US Dollar is outperforming alongside the Japanese Yen and Swiss Franc in a classic risk-off session. Falling US yields accompany Dollar consolidation ahead of the US CPI release.
Danske Research Team notes that the US Dollar is outperforming alongside the Japanese Yen and Swiss Franc in a classic risk-off session. Falling US yields accompany Dollar consolidation ahead of the US CPI release. Analysts expect US headline CPI to slow to 0.2% month-on-month and core CPI to hold at 0.3%, with base effects explaining much of the annual moderation.
Safe-haven bid as inflation data loom
"The US January CPI report, that was originally scheduled for Wednesday, will be released today."
"We think headline inflation slowed down to +0.2% m/m SA (+2.4% y/y) driven by lower gasoline prices and base effects related to high energy prices a year ago."
"The effect will likely reverse in February, as both gasoline and particularly US natural gas prices rose towards the end of month."
"We think that core inflation remained relatively steadier at +0.3% m/m SA (2.5% y/y)."
"The apparent slowing in the annual growth rate is also mostly explained by base effects."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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