The Dollar saw mixed results against the major currencies during today's trading session. The EUR/USD pair began today's trading with a 100 pip drop, just to bounce back towards the 1.2300 level. The Dollar saw similar volatility against the Pound as well.
The Dollar's volatility seems to be the result of the mixed data provided by the U.S. economy today. The Building Permits report showed that housing starts in the U.S. declined to 507,000 in May, failing to reach expectations of 630,000. On the other hand, the Producer Price Index fell by 0.3% in May, beating expectations for a 0.5% drop. As a result, the Dollar saw mixed trading against the major currencies.
Looking ahead to tomorrow, the most significant economic publication looks to be the U.S. Core Consumer Price Index (CPI), which is expected at 12:30 GMT. The CPI is expected to show that inflation in the U.S. remained stabile in May. If the end result comes in as predicted, today's mixed trading might be seen tomorrow as well.