The Japanese Yen (JPY) regained positive traction following an early Asian session slide in reaction to Japan's upbeat Machinery Orders data, which countered recession fears and boosted hopes for an economic recovery.
The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Thursday, extending its gains for the second successive day. The AUD/USD pair maintains its position following the release of the preliminary S&P Global Purchasing Managers Index (PMI) data.
UK inflation for April surprised on the hot side this morning, with service CPI spiking from 4.7% to 5.4% against expectations for 4.8%, ING’s FX analyst Francesco Pesole notes.