Dollar Edges Up in Quiet Month-End Trading, Canada GDP and Eurozone CPI Shrugged Off
Dollar is showing mild strength in early US session despite slightly disappointing PCE inflation data. While the data reinforces the likelihood of a 25bps rate cut by the Fed in September, it does little to support the case for a more aggressive 50bps cut.The greenback is getting a slightly boost from modest recovery in Treasury yields, which is also contributing to the slight weakness seen in Yen and Swiss Franc.
Dollar is showing mild strength in early US session despite slightly disappointing PCE inflation data. While the data reinforces the likelihood of a 25bps rate cut by the Fed in September, it does little to support the case for a more aggressive 50bps cut.The greenback is getting a slightly boost from modest recovery in Treasury yields, which is also contributing to the slight weakness seen in Yen and Swiss Franc.
