The US dollar has stumbled 15-20 pips across the board after the latest durable goods data. It's a bit of a confusing reaction as the tone of the numbers was strong despite a slightly weak headline at -4.5% vs -4.0% expected. That might be some flows kicking in at the same time as we wind down the month.
Cable is leading the chart, up 62 pips now to 1.2005 from a low of 1.1923 at the start of European trading at 1.1975 before the data. GBP/USD is one of the few US-trades that didn't break the February lows last week and now it's erased Friday's loss.
That's a good sign for cable but the pair remains vulnerable to a flush with little support below 1.1850.
Commodity currencies are also making a nice move on the data with S&P 500 futures up 33 points.
