The US dollar index remains over 104.50, despite solid US PCE statistics. US Core PCE increased by 0.30% in February, as expected. The PCE excluding food and energy increased by 2.8% year on year, whereas the core PCE in January was revised to 2.9%. The CME Fed monitoring tool now predicts a 66% probability of no rate cuts in June, up from 55.20% the previous day. Following the release of the US PCE statistics, US 10-year rates fell marginally. The US 10-year and 2-year spread decreased to -40.2% from -53%. Major resistance: 104.50/106. On April 1st, 2024,
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 the US ISM manufacturing PMI stood at 103.40/102.70 (3 pm GMT).