EUR/USD has fallen back to the 1.4515 level as the dollar sees a fresh round of strength nearly across the board. Traders are blaming increased hedging from US corporates as well as ongoing concerns over the state of the European banking system, Greece, Dubai, etc.
On the flip side, a whiff of inflation was smelt this morning in the US PPI data prompting traders to push up US bond yields. Strong industrial production data is a big contributor as well.
Look for solid buying from China in advance of 1.4500 barriers. Big stops are seen on a break below of 1.4480.
