US Dollar Aims to Extend Rebound, Pound May Overlook Jobs Data
Markets

US Dollar Aims to Extend Rebound, Pound May Overlook Jobs Data

DailyFX.com -

Talking Points:

  • Yen falls, Aussie Dollar gains as risk appetite firms in Asia
  • Pound may not find lasting lead in UK jobless claims data
  • US Dollar may gain ground on hawkish Yellen, CPI report

The Japanese Yen was a standout loser in otherwise quiet Asian trade. Regional shares followed Wall Street higher , pressuring the standby anti-risk currency. Investors' chipper mood likewise offered a lift to the sentiment-sensitive Australian Dollar , with a bit of upbeat economic data helping things along as well.

UK jobless claims data headlines the calendar in European trading hours. Economists' forecasts point to a slight increase in applications for unemployment benefits. The outcome seems unlikely to leave a lasting impression on the British Pound considering its limited implications for near-term BOE policy.

Later in the day, the spotlight will turn to Washington, DC anew as Fed Chair Janet Yellen sits for a second day of Congressional testimony, this time in the House of Representatives. Another hawkish outing mirroring the tone of yesterday's proceedings may offer a further lift to the US Dollar .

January's US CPI data may also prove helpful on this front. The benchmark year-on-year inflation rate is expected to rise to 2.4 percent, the highest in almost five years. Price-growth data has tended to outperform analysts' forecasts in recent months, hinting a still-higher reading may cross the wires.

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Asia Session

US Dollar Aims to Extend Rebound, Pound May Overlook Jobs Data

European Session

US Dollar Aims to Extend Rebound, Pound May Overlook Jobs Data

** All times listed in GMT . See the full DailyFX economic calendar here .

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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