DXY flows - PPI in the ballpark, leaves views in place, slowing into w/e
3
No shocks from PPI, firm enough to leave net change in mkt's inflation take
DXY has 103..50 as next resistance above the .20~ highs, but slowing as many pairs run into their own resistance
PPI in the ballpark, on expectations on the core and just 0.1pp below on the headline, but still broadly strong. Data doesn't really move the dial and leaves the net shift in market assessment on inflation state and risks in place. USD/CHF still the main net mover of the day but itself running out of gas and easy headroom into 0.84. 103.50 is still the next higher resistance on the dollar overall, and maybe needs the market to get into the mood to test the MoF on USD/JPY if the overall index is going to start motoring further from here.