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The Fed's preferred PCE inflation gauge excluding food and energy reached the 2 percent target, according to the report. The Fed raised rates in June for the second time this year and has forecast two more hikes.
Inflation at target supports further Fed tightening, which strengthens the dollar and can pressure dollar-priced commodities and emerging-market currencies.
reuters.comLucia MutikaniJul 11, 2018After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
