The British Pound is trying to steady its stance at 1.28, after stronger than expected UK wage growth figures spared it from further losses, following a heavy decline noted in the latest inflation figures that were released yesterday.
The U.S. consumer price index measure of inflation rose 0.1% month-over-month in July but failed to match expectations of a 0.2% rise as we had envisaged in our Australian dollar/U.S. dollar (AUD/USD) currency pair report earlier.
After an eventful last week, the start of this one has been very quiet so far. Monday saw minimal volatility across the majors as the dollar extended its NFP-related rebound against the commodity currencies but declined slightly versus the euro. The single currency rose despite data showing German industrial production unexpectedly fell 1.1% in June.