Daily Forex Preview -22/12, Guest post by John Benjamen at Orbex
Guest post by John Benjamen at Orbex
The Bank of Japan left its monetary policy unchanged which saw the Yen marginally stronger against most of the peers with the exception of the Greenback. German PPI was modestly weaker on the monthly basis but was better than expected on the yearly basis, despite still contracting. The Euro continued to weaken against the US Dollar intraday and managed to close below the major support at 1.2271, making a low to 1.2219.
UK’s public borrowing came out modestly better than expected but the Cable was little changed by the numbers. Canada’s retail sales did not bring any surprises while CPI as expected was soft. The Canadian dollar weakened momentarily but managed to gain especially against a weaker Euro and the British Pound.