US dollar gains as fears about sticky inflation persist; yen hits 34-year low

“The (PPI) data certainly helped smooth some of the rough edges off yesterday's print," said Karl Schamotta, chief market strategist at Corpay in Toronto. "A number of components that go into the Fed's preferred personal consumption expenditures index came in much cooler than expected - but services cost growth remained elevated for a third consecutive month, helping ratify a more cautious approach to cutting policy rates." Read the Reuters here.