USD Trading Outlook (08-08-2012)
U.S. Dollar Trading (USD) a relatively quiet day on the markets with some positive and negative news keeping most pairs in tight ranges. The big move was seen in the USD/JPY which moved up to Y78.75 as US Yields creeping higher. Bernanke spoke on the Euro Crisis having a ‘pretty significant’ effect on the US recovery. Looking ahead, Q2 Productivity forecast at 1.3% vs. -0.9% previously. Also Q2 Labor Costs forecast at 0.6% vs. 1.3% previously.
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