The EUR/USD is pressuring the 1.1920 level despite some encouraging data from Europe. The EU unemployment rate fell to 8.7% as expected. Germany's Industrial Production rose 3.4% in November . Its trade balance surplus reached €22.3 billion, which was better than expected.
The U.S. dollar's recovery against the major counterparts persists except against the Japanese yen. The BOJ surprised the market by ending of the bond buying. The U.S. dollar fell 60 pips against the yen from $113.2 to $112.6.
The U.S. dollar is still enjoying the momentum from last Friday's job report. The U.S. economy is healthy and so far, the earning report season has a good start. The question now is how much and how long the U.S. dollar can strengthen against its counterparts.
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