The dollar fell rather sharply following weaker than expected Q2 ECI data, though later managed to recover some ground on the back of an improved Chicago PMI, and pre-weekend short covering. EUR-USD started the session near 1.0960, and made its way to 1.1114 highs by mid-morning. USD-JPY fell from 124.35 to a low of 123.52 before finding support. USD-CAD popped to 1.3099 highs after weak May GDP data, though eased back to 1.2940 before heading over 1.3060. Cable meanwhile, spiked from 1.5570 to 1.5678 highs.
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