December 6, 2022

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US dollar catches a small bid with USD/JPY leading

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US dollar slightly higher after PCE data

US inflation data trailed estimates but the dollar is higher anyway. USD/JPY is up to 109.76 from 109.66 and the euro and pound are also facing mild selling pressure.

US dollar slightly higher after PCE data

It’s the final trading day of the month so flows are likely to dominate fundamentals, though we still have an important speech from Brainard at 2030 GMT.

The time to watch will be the 11 am ET London fix. That’s when we could see a big spike in currency moves.

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