{video} The US personal income and outlays report, which features the Fed’s favoured inflation gauge, will be scrutinized on Friday at 12:30 GMT, as speculation about the central bank’s next move reaches fever pitch. Subdued inflation and increased uncertainties about the outlook led the Fed to drop its ‘patient’ stance in June and signal its readiness to “act as appropriate”. But as the Federal Reserve considers its response to the worsening outlook, the US dollar’s recent sell-off is starting to seem overdone. Personal income and spending figures, as well as the core Personal Consumption Expenditures (PCE) price ... (full story)