Dollar ignores stronger than expected PPI reading and is trading down against all but Sterling and Yen for the day.
Headline PPI rose 0.5% mom, 3.1% yoy in May, versus expectaiton of 0.2% mom, 2.8% yoy. Core PPI rose 0.3% mom, 2.4% yoy, versus expectation of 0.2% mom, 2.3% yoy.
Focus will now turn to FOMC rate decision today. Fed is widely expected to raise federal funds rate by 25bps to 1.75-2.00%. Voting will be the first thing to watch even though it will very likely be unanimous. Fed will also release updated economic projections.
Here are some previews