The dollar took a breather in European trading today after making strong gains earlier in the week. USD/JPY fell from around 156.20 to 155.21 before recovering to around 155.60. EUR/USD also rose from 1.0540 to 1.0579 and is currently at 1.0566.
Despite UK Q3 GDP being slightly lower than expected, GBP/USD reached a high of 1.2697 before dropping to 1.2670. Commodity currencies are also slightly higher, with USD/CAD down 0.1% to 1.4045 and AUD/USD up 0.2% to 0.6465.
Stocks are under pressure, with S&P 500 futures down by about 0.5% during European morning trade. Treasury yields and Bitcoin are also relatively stable.
The US retail sales data release is the last major event of the week and will likely impact market movements before the weekend.
