EUR/USD down at 1.3192 from a North American close Friday up around 1.3228.
Weekend release saw China’s November CPI rise to 5.1% y/y from 4.4% in October, raising speculation of an early-ish (but probably not iminent) PBOC rate hike. This has weighed on the EUR/USD pairing.
Elsewhere US treasury yields continue to climb, 10 year yielding 3.3654 at present, another factor supporting the dollar. And ofcourse we have ongoing concerns regarding the euro zone peripheries.
No euro zone data of note today.
European stocks look likely to open marginally firmer. DAX up 0.2%, CAC 40 up +0.4%.
Some talk of Asian sovereign interest lined up down at 1.3170/80. Would expect sell stops to be lying not far south of there, but have no confirmation of exactly where as yet.
