US Durable Goods Orders were up a measly 0.4% in August, missing expectations of 1.0%, although Nondefense Capital Goods Orders ex Aircraft jumped 1.8%. Equities bounce from lows, but the dollar maintains its strength.
USD/JPY turns positive for the fifth consecutive session amid resurgent USD demand. The USD bulls largely shrugged off Friday’s disappointing US Durable Goods Orders. A weaker tone around the equity markets also did little to dent the bullish sentiment.
GBP/USD extends the retreat below 1.2750, as the US dollar makes a comeback amid a cautious market mood. The cable briefly regained 1.28 after an EU official reportedly said that the tide may be turning despite no big breakthroughs.