US PCE rose 0.4% MoM Thursday, below economists' 0.5% forecast, prompting a
modest dollar dip as markets trimmed Fed rate-hike expectations. Deutsche Bank
analysts said the print "dampens the recent weeks' heating-up Fed rate-hike
narrative." They added that while Fed officials remain cautious on the inflation
outlook, markets are increasingly pricing that the Fed may not need to raise
rates this year.