The Japanese yen is the big mover so far today, gaining 0.7% to a trade of ¥117.8. The rest of the major currencies are also a bit more subdued owing to the upcoming US CPI data, which will be the focal point for attention today.
All of the focus and attention will be on the US CPI data, which is scheduled to be released at 1330 GMT. In addition, the stock and bond markets were also solid yesterday.
Because of that, we remain optimistic that US inflation will be on the softer side again this week, which could potentially spur demand.”