Demand for the greenback sees it head higher on the day
EUR/USD is sent down to session lows of 1.2307, and is now trading near 1.2312 as I type this. Meanwhile, cable also retraced the inflation report gains and is almost on par for the day.
USD/JPY is also higher back up to 106.42 after heading down to lows of 106.15 following Amamiya's comments earlier in the day.
Commodity currencies were hit early on so the moves there hasn't been too large. AUD/USD remains contained near 0.7700 as there is quite a large option expiry sitting at 0.7710.
The dollar index is also up to session highs, sitting at 90.07.
The technical sign in EUR/USD isn't very encouraging for the near-term. The move here sees the pair fall below the 100 and 200-hour MA, which puts a short-term bearish bias back in play for the time being.
