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Dollar versus Europe extends downside after US data- EUR/USD lifts above 1.0550
The dollar has fallen back further versus the Euro and the Pound. The EUR/USD has pushed to set a new high on the week at 1.0560 and the GBP/USD has almost touched 1.2650. The USD/JPY has slipped again and that has allowed those two pairings advance further. US yields are not much lower and this does rather smack of month-end outflow on the US currency. The more important October PCE data at 3pm might now be crucial in deciding, if the dollar has more downside to come. For that reason it is likely the moves in the EUR/USD and the GBP/USD might not extend much more, until that data is revealed at 3pm GMT.
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