NZD/JPY-Strong Downtrend

In the absence of much U.S. data yesterday, the Dollar did little except regain some of its small, early losses. Outside factors, including continued tension with Iran and concern over the UAE's rumblings about allocating an additional 10% of their reserves into Euros, may be playing a small role. Today's data is also unlikely to provide much optimism, though the ambivalent data is being shared with Europe, were Germany's high-flying ZEW confidence index slipped to 63.4 from last month's 69.8. Read More....