The Euro is trading at 1.0996 at present.  The low has been 1.0904 while the high has been 1.1003.  The US dollar continues to be pressured by the currencies after comments made yesterday by the Fed Vice Chair Stanley Fischer.  He made note of the fact that a rate increase is widely expected at some point this year although the policy line is uncertain.  European data out earlier today also seemed to encourage downside pressure on the greenback.  Both French Flash Manufacturing PMI and Flash Services PMI were below expectations with 48.2 and 52.8 respectively.  German Flash Manufacturing PMI and Flash Services PMI were better than expected with 52.4 and 55.3 respectively.  Additionally, confirmation for the move higher for the Euro came from the European PMI data that was also better than expected with Flash Manufacturing PMI posting 51.9 while Flash Services PMI was 54.3.  This data indicates that Europe may be starting to show signs of growth once again after initiating its own QE plan.  A looming solution to the Greek refinancing debacle also helped provide additional impetus for the move higher.

The British Pound is trading at 1.4927 at the moment.  Sterling has traded as low as 1.4890 while the high has been 1.4984.  Cable saw the highs after mixed inflation data was released out of the UK this morning.  UK CPI was lower than expected posting 0.0% while Core CPI was also lower than expected with 1.2%.  UK RPI was slightly higher than expected with 1.0%.  UK PPI Input was lower than expected with 0.2% while UK PPI Output was higher than expected also posting 0.2%.  Finally, UK HPI registered 8.4% which was below expectations.  This mixed data has recently enabled the Pound to soften a bit and now remains posed towards the downside.  There are lingering concerns regarding the growth potential of the UK economy which has recently been seen as slowing.  Therefore, caution underpins this current market.

The Japanese Yen is trading at 119.57 currently.  USD/JPY has seen a low of 119.22 while the high has been 119.88.  The Yen has taken back more of the ground it recently has given up to the USD Dollar.  The recovery of the Yen today can be seen as directly related to the comments from the Fed Vice Chair Fischer who confirmed the change in guidance of the central bank.  Japanese Flash Manufacturing PMI was lower than expected with 50.4.  But this data did not hinder the Yen today as it recovered some of the ground given up to the Dollar recently.  At this writing the USD/JPY is posed towards the upside with the possibility of the Dollar making a tiny comeback.  We shall see.

AUD/USD is trading at 0.7877 with the low being 0.7835 while the high has been 0.7938.

USD/CAD is trading at 1.2511 with the low being 1.2427 and the high being 1.2545.

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 This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.