USD unlikely to fall too far this week due to PCE data on Friday
Good point from Bloomberg here this am worth sharing to navigate the USD.
Chairman Powell tried to calm markets yesterday by stating that price increases should prove temporary and that the Fed will be patient in increasing borrowing costs. However, the USD weakness unlikely to last since the core deflator is forecast to print at 3.4% y/y.
Any high inflation prints are going to get the Fed nervous and increase chances of earlier Fed tapering. So, the USD unlikely to fall too far ahead of them. If it does, the dips should find buyers into Friday.