Decent data from the States gives the buck a boost
Core inflation is holding up in the US which is a positive for Fed rate watchers.
Gas and eggs (often complimentary of one another) kept prices afloat. The downside was the drop in real weekly earnings which fell 0.3% vs a revised -0.2% (prior was -0.1%). Year on year the rose 1.8% vs 2.2% prior. That puts another cloud over the US consumer
The housing market was told to do better and it is. It's another peg in the board for the Fed and liftoff. If inflation carries on moving up and housing continues to grow then September will be even more in the firing line for a hike
The data was worth about 20 pips to USDJPY but the pound and euro look to be suffering the worst of it. GBPUSD is on its way to testing yesterdays lows at 1.5560 and is now down over 100 pips from the highs
EURUSD is also inching to the 1.0855 lows seen late in the European day yesterday
US real weekly earnings y/y
