The Dollar Has Stalled In Asian Session Trading

The Dollar has stalled in Asian session trading, and is expected to consolidate ahead of this weekend's G7 and IMF meetings to a range of 1.2675/1.2775. A break below resistance at 1.2640 will provide momentum for further downside action against the Euro. The next big tests for the U.S. economy are Retail Sales numbers on Thursday and CPI on Friday. Traders know Fed policy is heavily dependant on economic data for signs of inflation, and the Dollar continues to see support despite huge trade deficits with China. Any interest rate increase rumored by the FOMC will also spur heavy buying by the central bank. Read More....