 Dollar's selloff picks up momentum in early US session after PCE inflation slowed more than expected in October, while core PCE also declined. The data give a nod to Fed Chair Jerome Powell's comment that smaller rate hikes could start in December. Yen is the better performer as supported by extended pull back in US and European benchmark yields. But Euro and Sterling are clearly advancing with more conviction. Commodity currencies are also firm but lag behind. Technically, EUR/USD is breaking 1.0496 while GBP/USD has taken out 1.2152 resistance, confirming resumption of recent rally. Similarly, Gold has also taken out 1786.83 resistance to resume the rise from 1616.51. Next target is 61.8% projection of 1616.51 to 1786.83 from 1728.43 at 1833.73. It's a bit early to judge, but there is prospect of extending the rise to 1900 handle, which is close to another cluster fibonacci level. In Europe, at the time of writing, FTSE is up 0.16%. DAX is up 1.01%. CAC is up 0.46%. Germany 10-year yield is down -0.1074 at 1.827. Earlier in Asia, Nikkei rose 0.92%. Hong Kong HSI rose 0.75%. China Shanghai SSE rose 0.45%. Singapore Strait Times rose 0.07%. Japan 10-year JGB yield rose 0.0006 to 0.251. | 
