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Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY (Córdoba) - The US dollar strengthened versus most rivals Wednesday, with the main exception of the yen, as concerns over tighter Chinese monetary policy and fears of a new wave of defaults in China's banks triggered risk-off flows.

The EUR/USD corrected some of yesterday's gains after failing to overcome the 1.3790/95 area, and slid toward 1.3740. The GBP/USD saw a steeper decline, falling more than 130 pips from a high of 1.6255 to a low of 1.6119 before bouncing slightly.

USD/JPY fell to a low of 97.15 before finding support while AUD/USD was weighed by Chinese bank default/higher rate concerns. Elsewhere, European stocks and US futures are mostly flat on the day.

During the New York session watch for: US Import/Exports prices, Housing price index and BoC monetary policy decision.

Main Headlines in Europe:

Morning outlook: the Fed is king

Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank

UK: BBA Mortgage Approvals rise more than expected in September

BoE Minutes: UK economic recovery gaining momentum

ECB gives details of stress test action plan

Tightening China conditions boost JPY safety demand, higher-yielding AUD and NZD under pressure
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