After solid falls this morning the euro is pausing for a little breather as traders take a few positions off the table as we wait for US CPI at 12.30 GMT
The euro retreat has followed comments on QE by Constancio and a weaker revision to Eurozone CPI as highlighted in my wrap but we've now run into decent demand/bids at 1.1200 on EURUSD.
EURGBP has enjoyed the double whammy of a stronger pound but it too has demand at 0.7260-65 after clearing out the strong demand around 0.7300 which added to cable's rise to 1.5435. Something I highlighted here
EURJPY has found strong demand into 135.00 helped by USDJPY holding gains above 120.50
The US CPI forecasts are:
