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Greenback has another good day

After hawkish comments from one of the ECB officials yesterday morning the dollar gave back some it's recent gains in European trading this however didn't continue and a fall in the oil price and a mini collapse in the gold price saw the dollar rally to even higher levels on the currency markets. The Euro/Dollar rate which has seen support at 1.50 levels in the morning is currently trading on the 1.48's and cable is trading just above the 1.90 level after briefly breaking the 1.90 barrier.  The dollars impressive revival continues and unless there is a severe bout of profit taking looks set to test new highs again today. 

This afternoon dealers will keep a watchful eye to see if the US can keep their recent records by outperforming expectations on analyst's predictions on data.  The have their trade balance due and also their August economic sentiment figure. 

In Europe data wise we have already had the French CPI come in lower than expected and at 9.30 UK time we have the UK'S CPI figure and Retail price index figure due analysts are expecting both numbers to come in lower than the previous month but still show an upturn year on year.