US dollar is in the uptrend due to good overall statistics and willingness of US Federal Reserve to continue to cut incentives related to the buyback of government and mortgage bonds. Euro decreased by 1% due to weak inflation statistics from Germany and relatively good statistics in the US.
Traders are waiting for Euro Zone consumer inflation statistics today and if it is weaker than predicted (expected to be weaker) it will lead to USD consolidation against EUR. What is more, if statistics from US is good enough, it will be a good signal for the US dollar future purchase.
There is a day off in many Asian countries today due to Lunar New Year. That is why there is a weak activity in trading Asian and Pacific currencies. In case our prediction is correct, US dollar will continue to increase on the next week as well.
