Fresh reports that Jerome Powell is the front-runner to lead the Fed (his odds are currently at 80%) put a bid back into bonds and weighed on the US dollar Friday. At the moment, GBP is the strongest-performing currency ahead of Thursday's much anticipated BoE rate hike. US core PCE came in at 1.3% as expected, while German CPI weakened to 1.5% from 1.8% as EUR regained lost ground after Trump's former campaign manger Manafort was charged with conspiracy and tax evasion. CFTC positioning data highlights a potential squeeze. New analysis for Premium members with 7 charts and notes highlighting whether USDX is indeed heading for an inverse head-&-shoulder formation.