Forex Live Europe Market Open: Risk on - USD rally takes a break
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After advancing yesterday and ignoring mediocre data, the US dollar is sliding across the board. The Australian dollar benefits from encouraging Chinese data and no change in the RBA's policy. The euro is getting a break amid positive PMI data and the pound is reversing the unjustified fall. We also discussed levels in AUD/JPY which features an interesting technical behavior. The ECB decision draws more and more attention and the question is: what is priced in? Draghi still has room for surprise. The Swiss franc seems to be reacting to Swiss news for a change, and in today's case, disappointing data weighed on CHF.