Forex - EUR/USD - USD benefitting both from safe haven flow and better retail sales


 12:50 (GMT) 14 Jun

  [Forex Flows]

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EUR/USD - USD benefitting both from safe haven flow and better retail sales (0101-MCPW-C01)

The USD was well bid against most currencies even before the retail sales data, helped by the tanker attacks and consequent safe haven flow. But retail sales were also on the strong side, primarily because of upward revisions to the April data which make it likely that Q2 will deliver reasonable personal consumption gains. EUR/USD shoud find support above 1.12, and USD/JPY should remain resilient as long as geopolitical concerns continue. GBP/USD and the commodity currencies may be more vulnerable.


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