The U.S. dollar remained mixed across the board as the currency was seen weakening across most of the risk currencies. Economic data was limited for the U.S. dollar.
Data from the UK showed that manufacturing production declined 1.4% on the month. This was worse than expected as the economists forecast a 0.3% increase.
UK’s construction output was seen rising 0.5% following a 2.3% decline the month before. Economists forecast a 2.4% increase.The British pound was rather muted to the report.
Looking ahead, the economic data today will see the release of the UK’s labor market data. Economists forecast that the UK’s unemployment rate remained unchanged at 4.2% on the three months ending May. Average earnings are expected to rise at a slower pace of 2.5% on an annualized basis, down from 2.6% increase registered the three months before.
The NY trading session will see the release of the U.S. inflation data. Forecasts point to a 0.2% increase in inflation on a month over month basis, while core CPI is expected to rise 0.1% on the month. Both headline and core inflation rate are forecast to rise at the same pace as the month before.
