This is looking more and more like a dollar correction is here.
The Fed’s Dudley didn’t sound like someone who wants or needs to raise rates. Non-farm payrolls was strong but the Fed wants more evidence the jobs aren’t McJobs before they start fearing wage inflation.
USD/JPY breaking 108.00 is the first ‘lower low’ in the pair since July.
USDJPY daily
Listening to Kocherlakota, he makes some good points and sounds worried. He says there are signs of falling inflation expectations.
