A quick look at things before the opening of European markets
The Japanese yen leads the way on the day after USD/JPY broke below September lows - which prompted a fall to a low of 106.84 on the day earlier. The pair is now trading at 107.17. There are some quarters in the market who are saying that funds domiciled outside Asia bought up the pair after the downside leg of a multi-billion dollar barrier was triggered at 107.00.
Meanwhile, the kiwi is the second best performer on the day following a rise in inflation expectations. The NZD/USD high today was at 0.7336, but the pair is now trading at 0.7312.
The dollar is off the lows for the day, but sentiment for the greenback remains relatively weak overall. It's going to be a messy day in markets as the talk of the town right now remains the US CPI report due later at 1330 GMT today.
Here are some previews and thoughts on the data release.
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