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USD/JPY rebounds after US October PCE price index rises as expected
The important US October PCE report has just hit the screens. The data was expected to show an annual increase to 2.3% on the deflator, up from 2.1%. The core annualised deflator was expected to rise to 2.8% from 2.7%. The data has matched expectations across the board. That might mean all those US players still involved can now head home and get that Turkey stuffed for tomorrow. This data is consequently not having much of an impact, but then it is never wise to assume that will always be the case. The US stock markets are edging back down a little after this and of course there was an increase in core prices at the end of the day and that is something the Fed will take notice of next month. So, the dollar is bouncing a little more now following this release. Earlier the USD/JPY dived to a low at 150.99. It is right now trading at 151.61
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