Market talk on Lawrence Summer's nomination initially gave a lift for the USD in the Asian trading session. Although, the market's main concern that has been the real market talk was the Fed's next move on its tapering schedule.
However, market price action has been at bay while Retail Sales and the University of Michigan report figures would affect current market sentiments. In the Asian and early European sessions, the USD index have opened slightly higher @81.60 that reached a daily high @81.73; and currently making its way down back to the 81.35 low. As we made mention that any price recovery would only be short-lived with the general negative bias sentiment for the USD remain in the market.
CCY INSIGHT 0913.13
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