Asian session: USD remains under pressure.[M]

On Wednesday at the Asian session USD showed some movements but remained consolidating in a range. Tuesday’s data on PPI remains enough constrained, that reduces probability of continuation of increase rates by FED, however investors prefer to wait more reliable data before making further actions.

EUR/USD consolidated in a range $1.2835/1.2880.
GBP/USD rise from $1.8850 up to $1.8930. Offers returned rate to $1.8900.
USD/JPY decreased to the key support Y109.40, but couldn’t overcome it. By the European session bell rate fixed in area Y109.60.

The main event of the day- issuing USA CPI data. Due to high oil prices CPI forecasts on a level 0.6% against previous 0.4%. CPI “core” CPI core диаграмма expected on a level 0.2% (0.3% in March). Among the main reasons for such decrease as predicted is going to be reduction of shelter, tobacco and apparel prices after sharp growth the last months. In case of excess of forecasts can renew speculations concerning increase in inflationary pressure and cause USD rise.
Weak data can push for USD sales. Great attention refers to Treasury Secretary John Snow's report on international financial system at 1400GMT. Among European news it is necessary to pay attention to the publication of the Minutes of last meeting of Bank of England, and also unemployment data on 0830GMT.