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Tuesday, September 15, 2009

Dollar strengthens across the board on U.S data (Barcelona) - U.S. retail sales have increased 2.7% in August, beating market expectations of a 1.7% increase, while Producer Prices Index rose 1.7% in August, following a 0.9% decline on the previous month, and the NY Empire manufacturing Index has risen to 18.88 in September from 12.8 in August. The Dollar has been favoured against Euro Pound and Yen.

EUR/USD rose initially from 1.4600 to 1.4628 after U.S. data was released, although the pair turned down and dropped to session low at 1.4575 shortly afterwards.

GBP/USD has extended its decline after Retail sales/PPI data was released, and the Sterling broke below its intra.-day low to hit a fresh low at 1.6440.

USD/JPY has extended its recovery from 90.20 low, as the pair broke above intra-day high at 91.25 to hit a fresh hiogh at 91.50.

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