The dollar traded softer today following a run of data this week that has failed to ignite expectations for the Fed to hike as soon as the mid-June FOMC. EUR-USD lifted to a one-week peak at 1.1220 in lackadaisical trade ahead of the ECB announcement, which should be a non-event for markets as the central bank is an affirmed wait-and-see stance. Sub-forecast Eurozone PPI data had little imapct. The yen, meanwhile, rose against the dollar for a second day, exacerbating losses on the Tokyo Stock Exchange where the Nikkei 225 underperformed the region notably with losses over 2.4%.
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