The US dollar jumped in the aftermath of the PCE report, though I'm not sure that correlation equals causation. The PCE report was a touch low, highlighting the downtrend in inflation. That should have weighed on the dollar and did initially, albeit slightly.A short time later the dollar rebounded and Treasury yields inched higher in what's more-likely a case of month-end flows. It was a volatile month in the FX market and USD/JPY in particular. Right now is the most-liquid time of the day in FX and the move was likely an indication of strong flows ahead of the long weekend in the US, with some buy-stops run on the break of the weekly highs as well. This article was written
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