Session Recap: EUR/USD lacking conviction

The dollar trades weaker versus most competitors on Wednesday, with the main exception of the pound which suffered in the wake of BoE King comments, saying the UK faces a further bout of inflation and a muted economic recovery. Aside from a few economic indicators – including US retail sales - headlines flow has been light and pairs were confined to narrow ranges. Meanwhile, Wall Street indexes opened higher with the S&P500 reachings its its highest intraday level since Nov. 1, 2007.

Main Headlines in Europe (in chronological order):

Swedish Central Bank leaves repo rate unchanged

EMU: Annual Industrial Production contraction slows down in December

Pound getting kicked on BOE comments

BoE sees inflation above 2% until 2016

European markets cheer US-EU bilateral trade deal negotiations

Lively session again. Pound Slammed

US: Retail Sales rose 0.1% MoM in January

American equity markets edge higher Wednesday

US: Business Inventories rose +0.1% in December