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Dollar: Calm Before PCE—and Scenarios for "After"
The market has entered a wait-and-see
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The market has entered a wait-and-see mode. The dollar index is drifting around 98.0 after fluctuations in Treasury yields. On Wednesday, the 10-year yield rose during the day, then fell back to 4.22%, and the DXY retreated from its intraday highs.In the early part of the day, the euro was holding near 1.160 against the dollar, and the pound at 1.35. The key events are Friday's PCE (the Fed's favorite inflation metric) and the employment data block next week.Money markets
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