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USD/JPY rebounds modestly after US PCE data pretty much as expected
The October US PCE (personal consumption and expenditure) report has just been released. As noted here a little earlier today, the markets were expecting a lower set of readings in terms of the headline and core deflator. Spending and income were expected to be lower as well. The data has revealed pretty much that and all the data is pretty much in line with forecasts. The headline annualised rate was at 3%, which is not out of the forecast range and so the reaction in the markets has not dented the dollar at all, besides the USD/JPY had fallen back ahead of this release. The continuing jobless claims data was weaker than expected though. The USD/JPY is now rising a little more following all this data
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