The Pound remains under pressure as critical inflation data is ready to be published today. The Yen has been stronger against the U.S Dollar. And the Euro has put in a slow but upwards climb.
GBP/USD: Inflation Data Today the Trigger for Pound
The Pound has stayed in a tight range and is near 1.3850 versus the U.S Dollar. The British currency has not fought back since losing value nearly a week and a half ago, and remains under pressure. Important inflation data will come from the U.K today and will be a trigger point for volatility. Some speculators may be looking for a reversal upwards.
USD/JPY: Yen Surprisingly Strong Early
The Yen has gotten stronger this morning as Japanese investors have returned from their holiday. Perhaps, surprisingly too, Japanese equities have been lackluster early and have not reacted positively yet to the turnaround on Wall Street. The Yen is near 108.35 against the U.S Dollar and should be watched carefully.
EUR/USD: Slow Climb Back to Higher Range
The Euro has strengthened against the U.S Dollar with a slow climb. The European currency is near the 1.23 juncture and has shown the ability to gain. Even as talk about a more aggressive U.S Federal Reserve continues, the Euro has managed to stay within its higher tiered range, although it still far below its highs made only two weeks ago.