XE Market Analysis: Asia – Jul 31, 2015

The dollar fell rather sharply following weaker than expected Q2 ECI data, though later managed to recover some ground on the back of an improved Chicago PMI, and pre-weekend short covering. EUR-USD started the session near 1.0960, and made its way to 1.1114 highs by mid-morning. USD-JPY fell from 124.35 to a low of 123.52 before finding support. USD-CAD popped to 1.3099 highs after weak May GDP data, though eased back to 1.2940 before heading over 1.3060. Cable meanwhile, spiked from 1.5570 to 1.5678 highs.