The US dollar advanced in the first half of Wednesday’s session, as the likes of the pound and euro gave back some of the PMI-related gains made in the previous session. However, the Aussie dollar was still holding onto its overnight gains after an unexpected increase in inflation data led to a hawkish reassessment of Aussie interest rates. While the EUR/USD holds below the 1.07 handle for now, it is important to see what the dollar does here, especially as we have important hard data coming up, namely GDP and core PCE this week. But the more up-to-date PMI surveys which revealed disparity between the US and Europe, ... (full story)