US February PCE price index beats forecasts but not after the revision- USD/JPY rises and falls

The eagerly awaited US PCE report is now out and it has risen above forecasts . As explained earlier, the markets were looking for the core annualised rate to edge a little higher last month, from 2.6% to 2.7%. Well, as you can see it has lifted to 2.8%. At the same time core monthly rate was forecast to remain unchanged, at +0.3% and that has risen by 0.4% . Personal spending was forecast to rise by around 0.5%, after falling by 0.2% in January. That has missed slightly, at 0.4%,but income has risen above consensus, at 0.8%. The USD/JPY was mostly holding its earlier session rebound heading into this data and in the middle of that 150.36-151.21 range, trading around 150.80 and clearly poised to react, given the pivotal nature of that immediate price action. saw it spike higher, to above 150.90, but it is paring that just as quickly and that could be due to the upward revision in the prior months number on the annualised core rate. That means in effect little change. The USD/JPY is right now at 150.76