After hitting a nine-month high at 83.90 during the beginning of Asian trading, the USD/JPY saw a minor downward correction and is currently trading around the 83.75 level. The pair’s recent bullish movement has largely been due to speculations that the Bank of Japan will initiate a new round of monetary easing in the near future.
A worse than expected German Flash Manufacturing PMI earlier today caused the EUR/USD to give up most of its gains from the overnight session. The pair fell close to 30 pips following the release of the indicator and is currently trading at 1.3080.
Main News for Today
US Core CPI- 13:30 GMT
• Analysts are forecasting the indicator to come in at 0.2%
• A better than expected result today could help the dollar extend its gains vs. the yen and may also boost crude oil prices
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