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EUR/USD pushes above 1.0875 after US PCE data

As suspected and conveyed here earlier, the EUR/USD was trading at exactly 1.0850 when the US PCE data hit the wires. The fact that the data was pretty benign was seemingly the right news to see the Euro extend the move to the topside. Of course the 1.0900 handle remains a barrier, but the fall in US yields has underpinned the price right now. The lower USD/JPY is also affording the EUR/USD some more upside too. Hence, as things currently stand and with US stock futures on the rebound, the prospect of a test of 1.0900 this afternoon looks like a live one. We shall just have to see it that plays out though. We also have to remeber; the touted US month-end outflow might be part and parcel of this too.The EUR/USD is currently trading at 1.0879

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