Currency traders are reading what they want from US data as immediate reaction to the Advanced GDP figures see a strong push by the greenback. Note we have the headline figure coming in at 1.6% quarter-on-quarter well short of the consensus forecast of 2.5% quarter-on-quarter though previous results did see an upside adjustment to 3.4% from 3.3%. While an excuse for the doves market has opted to focus on a jump in the Advance GDP Price Index coming in at 3.1% quarter-on-quarter from 1.6%.
EURUSD and GBPUSD are strongly coming off overbought levels even as USDJPY is relatively muted above the 155.00 region, still focused on tomorrow BoJ decision and inflation figures from Japan.
