Filed Under:
Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY (Córdoba) - The US dollar traded mostly firmer across the board during the European session, with the pound underperforming in the wake of lower-than-expected UK CPI figures.

The dollar has continued to strengthen amid speculations the Fed could begin tapering its bond-buying program this year after last week's GDP and NFP figures boosted optimism over the US recovery.

The EUR/USD fell to a daily low of 1.3358 amid dovish comments from ECB Asmussen, although it managed to bounce toward 1.3400 afterward. The USD/JPY reached a 2-month high of 99.79 but stalled ahead of the 100.00 mark. Meanwhile, the GBP/USD dropped over 100 pips and printed a 2-month low of 1.5853 as soft inflation data weighed on the sterling.

Commodity currencies are lower versus the dollar, with the AUD/USD hitting a 6-week low of 0.9311, while the USD/CAD reached its highest in over 2 months at 1.0508.

During the New York session, watch for NFIB Small Business Survey, the Chicago Fed National Activity Index and the Redbook index.

Main Headlines in Europe:

Germany: Wholesale Price Index falls more than expected in October

Germany: CPI drops by 0.2% in October

UK: Annual CPI grows less than expected in October

UK: Annual PPI – Output rises 0.8% in October

UK: Retail Price Index flat in October

UK: DCLG House Price Index rises 3.8% in October

UK: CB Leading Economic Index grows by 1.5% in October
comments powered by Disqus