UK 2Q GDP came in line with market expectations which saw GBP/USD recover its earlier losses.
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The Japanese Yen remained relatively unchanged as Japan reported its inflation figures for the month of June in line with market expectations. EUR/USD climbed to a session high to trade at 1.3474 as July&rsquos Preliminary Eurozone PMI beats market expectations. A higher-than-expected CPI reading rallied the Australian Dollar as markets started to see an RBA rate hike argument taking shape. The New Zealand Dollar took a sharp dip against its major counterparts as New Zealand reported disappointing inflation numbers. The US Dollar flew higher against the Loonie as Canadian unexpectedly fell in June. Germany CPI increased at 1.0% year-on-year for the month of June. Following this release, EUR/USD recaptures the critical 1.36 handle. |
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