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Dollar edges lower versus Europe- check out the GBP/USD rising above 1.2760 now

The dollar is losing some ground with around 90 minutes to go before the release of the US CPI report. The Yen has remained weak though and that means the gains right now in the GBP/USD and EUR/USD are delivering a corresponding rise for the GBP/JPY and the EUR/JPY. The GBP/USD has just now lifted above 1.2760 which is something that has been unable to achieve all week until now. The US stock futures are still positive, but of course that might change after the CPI release and ahead of the opening. The DAX rejected a move to above 18,500, as the resistance there duly capped the index at 18,494. It has since traded back to 18,425, but it is off that low now and seems to be rising, as the dollar falls back a bit versus the European currencies. The high seen on the GBP/USD so far has just been set at 1.2764. It is trading right now at 1.2763
 

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