EUR/USD Back below the 0.9800 figure on US hot PCE and solid US dollar – by christianborjon EURUSD Majors UnitedStates Inflation Fed
k battles elevated inflationary pressures above the 6% threshold, as shown by the Fed’s preferred gauge of inflation, on Friday. At the time of writing, theA bunch of Fed policymakers crossing news wires, led by Vice-Chair Lael Brainard, expressed that the Fed needs to keep interest rates higher-for-longer, so the bank can attain its goal. She added that the Fed would not pull back prematurely while echoing other colleagues’ expression of not knowing where rates would peak.
Aside from this, the US Commerce Department revealed that the US Federal Reserve’s favorite measure of inflation, known as the PCE, increased more than estimated in August, at a 0.3% MoM pace, 6.2% YoY, while core PCE, which excludes volatile items, accelerated at a 0.6% MoM, up 4.9% YoY.