The greenback fell against the euro, the Japanese yen and the pound pulling back some of yesterday’s strong gains. Activity was subdued though with most traders waiting on tomorrow’s nonfarm payrolls before placing trades of any size.
GBP/USD was testing the lower range at 1.51 with upward breaks of any size being quickly sold down again. Mark Carney, governor of the Bank of England declined to offer any support to the Pound in his speech yesterday. Instead Mr Carney focused on the global economy and the impact of climate change.
A mixed set of economic data kept the US dollar treading water. Consumer spending in August came in above expectations according to latest figures. The Department of Commerce reported a 0.4 percent lift in spending between July and August.