All the indicators this week hinted for a slower growth and a higher inflation, and that what the fed minutes confirmed when they downgraded growth expectations and upgraded inflation ones, and then the Philly fed manufacturing index hinted for a devastated manufacturing sector even worse than expectations.

Today, markets are taking a break from all the fundamentals and just holding the idea of stagflation in the minds of investors, and that what is making the dollar even weaker and that might be the trend that will be undergoing for the next period.