Although the dollar gained against JPY it suffered losses against higher yielding currencies such as AUD and NZD. In the markets, NASDAQ was up 26 points and Dow Jones was also up 108 points. Looking ahead, ISM Manufacturing is forecast at 35.5 vs 36.2 previously.
Euro ended the week on a heavy note as traders unwound heavy EUR/GBP longs. EUR/USD remains range bound at the key 1.40 level. Figures just released show PMI manufacturing at 33.9 compared to 35.6 previously.
After a volatile day of trading and the downside being tested on various currencies, GBP finally rebounded off lows due largely to improved market sentiment, seeing gains against JPY, USD and EUR. Figures released today are PMI manufacturing which is forecast at 33.5 vs 34.4 previously and also Consumer credit.