GBP: The data on government borrowing rarely upsets the pound unless wildly away from expectations. Sterling still has some underlying support from the better tone to data on the economy. CAD: Headline inflation is seen moving higher, from 0.4% to 0.9%. Currently, USDCAD is not far off the high for the year (1.0421, made late May). EUR: Finance ministers are meeting. There could be some headlines on Greece as it appears a little more politically unstable which threatens its ability to push ahead on the reforms demanded from its international lenders. Idea of the Day Thursday was a small glimpse of the world to come when the US Fed starts taking its foot of the monetary accelerator. Emerging markets were hit hard and the Aussie behaved like a boxer that had just been dealt a knock-out blow, with no signs of getting back on his feet. Meanwhile bond yields were higher across the board with Italian yields moving up 3 times faster than German ones. All this on the fact that the Fed told us what is abundantly clear, namely they cannot go on buying USD 85 bln of securities a month indefinitely. Furthermore, they were very subtle in the way it was phrased. We could be entering something of a stand-off between the Fed and the markets from here, because the worse thing they can do for their credibility is to blink and back-track on the tone of their statement and comments this week in response to the market reaction. Latest FX News JPY: The yen seeing further modest selling pressure during the Asia session. Comments from Kuroda having a limited impact at the start of the European session, the BoJ governor making some positive noises on the economy. GBP: The retail sales data on Thursday (stronger than expected) gave sterling a small lift, but it was minimal compared to the post-Fed moves. The data is still shaping up well for a decent second quarter in the UK, which should ultimately prove modestly supportive for sterling in the bigger picture. The1.54 area should continue to provide a decent area of support. AUD: The Aussie was hammered in the wake of the Fed decision and remained on the floor during Thursday, holding just above the 0.9150 area through the day. EUR: Trading relatively after the Asia move lower on Thursday, despite the fact that peripheral markets were selling-off quite aggressively in the post-Fed move. Politically, Greece is looking a little more wobbly at the moment. FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. 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View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next Forex Weekly Outlook June 24-28 Anat Dror 9 years GBP: The data on government borrowing rarely upsets the pound unless wildly away from expectations. Sterling still has some underlying support from the better tone to data on the economy. CAD: Headline inflation is seen moving higher, from 0.4% to 0.9%. Currently, USDCAD is not far off the high for the year (1.0421, made late May). EUR: Finance ministers are meeting. There could be some headlines on Greece as it appears a little more politically unstable which threatens its ability to push ahead on the reforms demanded from its international lenders. 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