It was a soggy GDP report in essence but USD has its focus elsewhere
As indeed do most currencies/markets right now as core PCE and labour costs both point to higher inflationary pressures.
As always the devil is in the detail and despite a soggy Q1 GDP headline the greenback has been gleefully grabbed.
USSDJPY has been up to 111.70. Expect more sellers/res at 111.80 and 112.00 as per the orderboads.
EURUSD down to 1.0914 but beware support from large option expiries at 1.0900 at 14.00 GMT today. For more on how it might all impact read my post here.
GBPUSD down to 1.2910 after 1.2957 highs earlier and I remain a rally seller. EURGBP 0.8453 and the rally to 0.8463 helping to cap cable as ever. A combo of month-end demand and EZ inflation data putting a bid under EUR pairs generally.
Watch out for other month-end flows especially around the 15.00 GMT fix. Talk has been that the action will be USD-negative but let's see.
