The US Consumer price index in the month of October was stable, rebounding 0.20% and matching estimates. The data showed that despite the modest uptick, inflationary pressures were practically non-existent. However, the October inflation data manages to keep the Fed's rate hike plans unchanged. Some economists expect to see an increase in headline CPI over the next few months as evidenced by current inflationary trends, where most gains come from higher energy prices that are likely to remain. There was little reaction to the news but the dollar strengthened in the short term across the board before easing back after industrial production data continued to contract. For the month of September, US industrial production declined -0.20%, posting a third straight month of declines after briefly rising to 0.60% in July. USDJPY tested the highs of 123.488 yesterday with further upside likely to be followed.