The failure to eclipse the all-time highs yesterday left the topside fortified ahead of the 1.3670 and 1.3675 exotics. Asian trading made a late stab higher but early European action saw spot reject the levels above 1.3650. Bids into 1.3630/35 stalled the move lower for a period but the pair soon filled these and spot slipped back to 1.3600/05 support.
Official and quasi-official buyers have been noted into the lows to help kick the price slightly higher so the sub-1.36 stops remain intact for now. Looking ahead, the Friday release of US Q1 07 GDP data may be eyed but intraday there is little in the way of key economic unveilings to keep the US unit under pressure. Weekly jobless data represents the early focus before the 14:00 GMT March Help-Wanted reading.
Economists expect a 31 number, unchanged from the February headline. Following this, regional Fed data is set to dominate with the April Kansas survey due at 15:00 GMT and Chicago March Manf. data at 16:00 GMT. Following this a host of Fed officials are set to speak but only further clues over the path for US rates will impact the Dollar.
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