We are getting a consistent view from the Fed now that they are somewhat worried about the risk of a higher inflation rate. That is going to cause more rate hikes to come and higher yields will help the dollar.
More Quotes from Tim Mazanec:
If you look at the last three months, these PCE figures signal that inflation is maybe losing some momentum and calls for just another few more Fed rate hikes in the near term.Tim Mazanec
Even though the data has been inflationary and indicative of a stronger economy, comments from the Fed suggest they're going to wait and see.
Tim Mazanec
The dollar is definitely swimming against the tide, trying to make further gains against the twin deficits.
Tim Mazanec
Interest-rate differentials are what are helping the dollar right now. The difference between U.S. and other investment horizons has widened of late.
Tim Mazanec
People are watching the year-over-year core PCE inflation figure of 1.8 percent and that is not enough to change the debate over the Fed.
Tim Mazanec
It is weaker than expected, but still suggests strong jobs growth in the economy, ... Anything below 390,000 jobless claims is a strong number.
Tim Mazanec
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