Focus Turning to UK Retail Sales and Bernanke

Dollar is staying in tight range against majors today as Aussie stole the show in Asia. The Australian dollar extends recent rebound, partly supported by return of risk appetite in the markets and partly due to rising commodity prices. Markets outlook remains generally unchanged. Firstly, dollar will continue to be pressured against Euro and commodity currencies on rate outlook. Meanwhile, Sterling will be pressured more on rate cut expectations. Yen will be weak across the board on fading of risk aversion theme in short term. Meanwhile, Euro will likely be the main beneficiary on relative strength against dollar as well as in EUR/GBP and EUR/JPY crosses.

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Mata uang USD tetap dalam range pendek melawan semua mata uang utama. Market outlook tetap tak berubah. USD tertekan oleh Euro, sementara Sterling lebih tertekan karena ekspektasi pemotongan suku bunga seperti yang dilakukan the Fed. Sedangkan Yen akan melemah dalam jangka pendek. (Translate by Valburyman)