The pair EUR/USD has been in the positive area for three trading days in a row. At this time the quotations growth was after the US April PPI weak data. The report points out that it is quite early to talk about the inflationary pressure growth in the world leading economy now.
During the day the pair GBP/USD also showed more modest growth because of the EUR/GBP correction and a consolidation as well as the investors’ concerns about the Bank of England inflation and GDP forecasts.
At the end of the day the pair USD/JPY has strengthened amid the US stock market strong growth as well as the US and Japan negative bond yields increase. The pair fell and closed the trades neutrally.
It should also be noted that investors have negative attitude towards the US dollar and actively get rid of it – yesterday the dollar index basket (USDX) consolidated below the 94th figure. Still, we expect profit-taking on the long positions amid the US industrial production moderately positive data for April.