News flow is not particularly encouraging with a disappointing data set from China, a Russian convey of trucks into Ukraine driving concern there is more to it than simply a humanitarian aid mission, and the BoE’s Inflation Report and press conference sounding more dovish than expected. However, in the midst of this the USD isquiet and mixed. Outperforming are NOK, AUD and NZD; flat are MXN, SEK, CAD, CHF and EUR; while both JPY and GBP weak. Today’s focus is U.S. retail sales; while two dovish Fed speakers today (Dudley delivering opening remarks and Rosengren delivering a speech on funding) could drive a minor amount of USD weakness.
Read the full report: FX Daily