Moreover, the Japanese Yen softened against the US dollar as the NIKKEI 225 rose. Geopolitical risk-off does not seem to affect Asia at the time being. The USDJPY bounced up to 101.55 early on Monday as the demand was weakening for the samurai currency.
Elsewhere, the US dollar index is trading in the intraday in a tight range between 80.60/80.38 ahead of the CPI data release where it is expected to stand at 2.1% for June. In addition, investors are focusing on earnings report with companies like APPLE, COCA-COLA and Microsoft reporting their quarterly results today.
The Euro against the US dollar is trading at 1.3517, nears its recent low at 1.3490. Today’s meeting of the Foreign ministers could add some weight on the currency pair while higher than projected US CPI figure could strengthen the greenback and in turn could push lower the EURUSD. Also, the Euro against the Japanese Yen recovered from 136.71 to 137.34 but that bullish flash could be temporary as the longer term trading pattern is bearish and is likely to drive prices lower.
Lastly, as the tensions in Middle East continue the Oil would be supported. Yesterday the Crude Oil found support at 101.48 and jumped to 103.32. At the same time the Australian dollar against the greenback strengthened slightly and returned to cap at 0.94 as the RBA Governor Glenn Stevens at its speech did not say this time that the Aussie is overvalued.
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