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EUR/USD falls and recovers following US data
The EUR/USD fell to a fresh interim low at 1.0910 after the news of higher than forecast US CPI hit the screens. However, the weekly jobless claims also messed with that price action, as indeed it did with many other instruments this afternoon. So, the EUR/USD jumped back to above 1.0950, setting a fresh European session high today, at 1.0955. However, it is backing off now as the dust settles on all this and it seems this claims number, upon closer inspection may just be temporary and if that is the case, then the higher CPI data could eventually win the day and determine the ultimate direction for the Dollar and the Euro by the close tonight. We shall see on that. The EUR/USD is currently trading at 1.0935
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