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EUR/USD lifts to set a new high on the week

The EUR/USD has just now pushed its way to set a new high on the week, touching 1.0385. The move comes as the GBP/USD just now tries to push a little further above 1.2450 and the dollar index (USDX) slips. The USD/JPY remains relatively elevated at the same time, so the likes of the EUR/JPY and GBP/JPY, whilst off their earlier best levels of the session, remain elevated, compared to levels seen yesterday. It remains to be seen, how much further the EUR/USD can go ahead of the US CPI release, at 1.30pm GMT. Right now though, this move looks like it might be squeezing Euro shorts ahead of that data. The EUR/USD is right now at 1.0384 
 

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