The USD and JPY have firmed a little in Asian trade, EUR/USD down at 1.4200 from a North American close Monday around 1.4235, while EUR/JPY is down at 133.40 from around 134.15.
The market has noted an opinion piece by Fed Chairman Bernanke in the WSJ entitled “The Fed’s Exit Strategy.” In it the official says the Fed believes that accomodative policies will likely be warranted for an extended period, but that at some point, however, as economic recovery takes hold, we will need to tighten monetary policy to prevent the emergence of an inflation problem down the road.
For today, not much in the way of meaningful European data. Most interesting
06:15 GMT: Swiss trade balance for June
08:30 GMT: UK public finances and public sector borrowing for June.
The burgeoning risk appetite seen yesterday is presently going through some consolidation.
