EUR/USD moved to exchange at 1.3838. The euro zone streak PMI was stronger than anticipated, and this helped lift the euro about a large portion of a penny and further bond its recuperation from the dip to seven-day lows yesterday.
GBP/USD eased by 28 points to trade at 1.6795 after the MPC meeting minutes seemed to indicated that the members were not contemplating an interest rate increase in the near future.
AUD/USD recovered 4 points after Wednesday’s decline after inflation reported lower than expected. The AUD is trading at 0.9294 well below its April trading range. Even the declining US dollar did not help support the currency. Traders were hit with a decline in China manufacturing.
USD/JPY eased by 21 points as the US dollar declined to trade at 102.32 after the dollar declined on lackluster new home sales. “The WSJ reported yesterday that the BOJ may upgrade its inflation forecast for FY2014 if the April Tokyo CPI, due to be released on Friday, is strong.” “Unnamed sources familiar with the matter in a WSJ article emphasized that a 2% inflation forecast for FY2015-16 does not necessarily mean the BOJ will consider exiting monetary easing any time soon.
Gold recovered $5.30 to trade at 1286.40 but remains directionless as data continues to support an increase in tapering at the next FOMC meet..