USD flows: Mild relief after PCE

Not much reaction to the US PCE price index, although there might be some mild relief that the March number came in in line with consensus at 0.3% after the above consensus Q1 number released yesterday. US yields have edged a little lower as a result, allowing equities to move a little firmer. USD/JPY continues to press higher reaching another new 34 year high at 156.95, but the lower US yields suggests the move may be becoming overdone here. For now, though, there has been no sign of BoJ intervention this session, and if there is any action it is likely to come on Monday morning.