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US August PCE core +1.3% y/y vs +1.4% expected

The Fed’s preferred measure of inflation
– Prior was +1.4%
– Core m/m +0.1% vs +0.2% expected
– Prior core m/m +0.1%
– PCE deflator +1.4% vs +1.5% expected
Soft numbers on the core and the headline. US dollar lower on the kneejerk.