The Dollar, which had again weakened yesterday following soft ISM non-manufacturing PMI data for December, was broadly stable today thanks in part to small losses for the Euro and in particular Sterling.
The Euro remains range-bound but under modest pressure from continuously weak Eurozone, including German macro data. German industrial output contracted a much larger than expected 1.9% mom in November, extending a downtrend which started in mid-2017.
Sterling got little support from a 1.3% yoy rebound in house prices in December and continues to beat to the drum of Brexit, with market still in the dark as to what is likely to happen in the House of Commons vote on 15th January and in following days and weeks.
