weak US data brought dollar down

Yen came down to a low of 83.63 after the disappointing US data last night. The Tankan that was released this morning reported big Japanese manufacturers were looking at the dollar averaging at 89.66 JPY for 2010/2011.

After the UK GDP data, the sterling dealt up to 1.5896. But after BOE member Posen argued a case for further quantitative easing, we saw the pound drop to 1.5718.

Aussie is still pushing up to a high of 0.9687.

Data today

Euro-zone consumer confidence – 9am

UK net consumer/ mortgage credit – 8.30am