- Bank of Korea bought USD/KRW around 1,049. Talk of $500 mln
- Euro zone manufacturing PMI July (final) 50.4, unchanged from flash read
- Euro zone unemployment 9.9% in June, unchanged from May
- Italy unemployment rate 8.0% in June, down marginally from 8.1% in May
- UK manufacturing PMI July 49.1, down from revised 51.4 in June and some way below median forecast of 51.0
Greenback has been generally soft this morning in relatively slow Summer trade. This despite agreement having been reached on debt limit deal.
EUR/USD up at 1.4437 from early 1.4400 having been as high as 1.4453. There had been talk of sell orders clustered in 1.4440/50 area early in the day and for all intents and purposes they’ve capped the topside so far.
USD/JPY down at 77.25 from early 77.50. Talk of buy orders down at 77.10/20 and they’ve so far lent tenuous support.
Cable effectively unchanged at 1.6445. Release of very poor manufacturing PMI data (see above) has ensured the pairing has struggled to take advantage of the generally softer dollar.
Cable gave up around half a cent on the data release, but garnered decent support from sovereign buying just ahead of 1.6400.
AUD/USD up at 1.1050 from early 1.1035. Talk of sell orders clustered 1.1080/95 ahead of 1.1100 barrier option interest.
USD/CHF down at .7875 from early .7925.
