The two final nails in the dovish FOMC-coffin

From e-markets.nordea.com

After two weeks of heavy buying, the USD was dented after a weaker-than-expected core inflation number. Details however revealed the biggest drop in used car prices ever, which suggests the weakness, is temporary as auto-prices are finally mean-reverting after the hurricane-related surge last year, and that the monthly core inflation numbers will be back to their usual selves (0.2%) shortly. Adverse base effects, higher gasoline prices and labour market strength will also boost inflation in coming months. This might spill over to greater wage expectations, especially as the number of job openings is now outstripping ... (full story)