The euro is becoming firmer, supported by a better economic outlook and expectations of further interest-rate increases by the ECB.
The dollar had been sold recently partly because of the view that the Fed will end its rate hikes. If that thinking is wrong, then so is the dollar selling, perhaps.
Strong economic figures will confirm the Japanese economy is doing better, reinforcing expectations of an end to the zero- interest-rate policy as early as the fourth quarter. That's yen positive for sure.
European economies are picking up. The German economy in particular is expanding, shown in yesterday's confidence figures, supporting the euro.
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