Those hoping for a whiff of inflation to give the buck a lift were disappointed and they were forced to hit bids after no rally followed the data. Traders report some last-minute interest to sell USD/JPY as the US has a very large coupon payment coming due today. Japanese investors are repatriating those proceeds. The buck looks quite offered now, but this is a seasonal flow, and once it is complete the buck could drift back up.
94.60 support held the line this first time down. More is at 94.34 and 94.00. The 200-day average is now overhead, at 94.95 and will be watched at the close.
