A risk-off move from overnight is likely to extend into today’s Asia-Pacific session. US stocks closed in the red after traders digested the latest inflation data out of the United States. The US consumer price index (CPI) crossed the wires at 8.3% versus the 8.1% Bloomberg consensus forecast. While that was lower than the prior month’s 8.5% print, it reignited inflation woes. Bitcoin fell over 9%, nearly breaching its 2021 low at 27,734.00. That brought the cryptocurrency’s monthly loss to over 23%, a stunning move considering April’s 17.31% drop. Short-term US breakeven rates rose following the CPI data, with the ... (full story)