Dollar discussion

The PCE core (MoM) remained at 0.2%, but both ISM manufacturing and Price Paid came in at higher then expected, putting additional pressure for the Fed to hike on August 8th. But the dollar was later sold across the board as rumors of funds and longer term accounts adding to their long EURUSD positions. We believe the reason for this is speculation of the Fed putting a hault on the present rate cycle which should send EURUSD rather quickly above the 1.3000 level.