The dollar continued strengthening against the Euro and British Pound in yesterday’s American session, pushing the EURUSD to 1.5385 and GBPUSD to 1.9507. These levels are 635points and 1,654points off their all-time highs, respectively. The greenback moved higher after Fed Chairman Ben Bernanke issued another concern on long-term inflation and solidified his stance of fully monitoring price stability more than any other issue. ISM non-manufacturing came out at no-change, 51.7, and the ADP employment report beat expectations, coming out at a gain of 40k jobs. Today, we look forward to the two central bank decisions, as well as US jobless claims due at 12.330h GMT.
Swiss CPI rose to 2.9% y/y, coming out higher than expectations (2.4%), the highest figure in fourteen years. Economists point to rising energy, housing and transport costs. Swiss economic growth outlook remains positive.