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Inflation Fears Ease With Latest Core PCE

February’s core PCE price index came out inline with expectations at 0.1% m/m.  With January’s figure being revised down to 0.2% from 0.3% this brings the annualised PCE figure back within the Fed’s comfort zone.  Despite the data being positive for the U.S. it was largely discounted by FX markets as inflation still remains near the upper end of the Fed’s comfort zone.