The dollar maintained its weakness yesterday, losing a bit of ground against the majors. Economic data came out a bit better than expected, seeing a very good increase in Retail Sales, however, not much of an increase on the Core Retail Sales, that excludes auto sales. We expect the dollar to continue losing ground into the London session. There are still plenty of risks on the euro as well as the pound, but it seems that the technicals have taken over the market following big fundamental shifts. We are still expecting big news over the course of the next few weeks out of EU and UK but since that cant be predicted, we can only wait and remain vigilant.
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