CHF is the strongest. GBP is the weakest.
The GBP lost ground against all major currencies in trading today after the year on year CPI inflation fell to 0.0% from 0.3% last month. The last time the rate was this low was in 1989. The core measure also fell in February (1.2% from 1.4% last month). The decline strengthens the case for the BOE to keep rates unchanged. According to ICAP, PLC, the market is pricing in the next rise in rates for May 2016. Earlier this month it was February 2016. The longer the delay (all things being equal), the weaker the currency.
The US will release their CPI at 8;30 AM with the estimate for 0.2% MoM. YoY is expected to remain unchanged at -0.1%. The Core MoM is expected to rise by 0.1% with the YoY at 1.7% (from 1.6%).
The strongest currency is the CHF. The USDCHF has declined by 0.84% in trading today. In the process, the price has just moved below the 100 day MA at the 0.9593 level. The low extended to 0.9566. The lows from November and December, 0.9531 and 0.9552 are the next key support. I would expect buyers against the level on the first test, with stops on a move below. A plane crash of Germanwings A320 in the south of France may also be contributing to a flight into the relative safety of the CHF - although terrorism is not being attributed to the crash as of yet.
