USD has been boosted in the recent days on Greenspan`s comments on the growth outlook in US. The remarks have hinted to the forex traders that there is a faster pace of hiking rate in US than what was anticipated. At the end of last week, EUR/USD has slided technically from 1.222 crossing the support level at 1.2165 and after the upbeat consuming confidence of July which has come at 106 today and testing 1.2 has become ahead. In spite of today`s good IFO data which has beat the expectations and has come at 95.6. The market is to focus now at US Q2 GDP advance reading and its price deflator as an eye on the inflation forces in US.

The better than expected figure of US consumer confidence has made the same to GBP/USD and it has come under pressure testing 1.82. the pressure is expected to continue over the coming hours but generally the pair is supported by the market expectations that there are more rate tightening this year to keep the inflation under 2% and to tackle the high housing prices in UK.

CHF has made the same as the European currencies against USD following the same sentiment of USD that has been prolonged after Greenspan`s comments.

JPY has started the week mixed between the government and BOJ`s upgrading to the economic performance in Japan and keeping the interest rate near zero. We should wait for June industrial production, July CPI, June household spending, and June unemployment rate this week from Japan.