Biggest % winners: USD/CAD up 0.88%, USD/CHF, EUR/GBP, EUR/CAD, on mild CAD weakness as the Bank of Canada kept rates steady at 0.25% as expected. Also, oil is weaker which is aiding the CAD pull back too.
Biggest % losers (this is where the momentum is): GBP/JPY down 2.31%, AUD/JPY down 1.93%, CHF/JPY down 1.77%, EUR/JPY down 1.77%, USD/JPY down 1.22% all on some serious yen strength.
Government Deficits and a decline in German Industrial Production weighing down the markets, and boosting the yen today.
Comments from the rating agencies helped the yen as well today: Moodys Investors Service said today deteriorating public finances in the U.S. and U.K. may test the Aaa boundaries. Fitch Ratings downgraded Greeces credit grade to BBB+.
GBP Manufacturing Production m/m 0% vs. 0.5% expected. Previous downwardly revised to 1.5%.
EUR German Industrial Production m/m -1.8% vs. +1.1% expected. The market focused in on that point but the last month's reading was revised upward from 2.7% to 3.1%.
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