Terri Belkas previews tomorrow's Retail Sales economic news annoucement.

EUR/JPY broke down quite nicely at 162.40 from a textbook B-wave triangle.

Even though there was no major US economic data released today, we had very volatile price action in the financial markets.

Steady rates are expected from the BOJ, but Governor Fukui has been issuing some fairly hawkish statements lately, spurring some speculation of a surprise hike.

The Chinese yuan appreciated the most in almost 10 months as speculation has been heightened on the possibility that US lawmakers will introduce protectionist legislation shortly after the US Treasury Department’s semiannual report tomorrow.

The dollar traced out its second session of tight ranges in the majors as market participants dismissed low level economic indicators to prepare for tomorrow's action.

US bond yields gapped higher this morning, giving equity bulls more reason to jump ship, which should pressure EUR/JPY.

Currency technical analyst Jamie Saettele analyzes the Japanese yen against the Canadian dollar, Swiss franc, and New Zealand dollar.

The inability to hold above the June 1 low at 1.3392 and the break under the trendline drawn off of the October 2006 and January 2007 lows indicates additional bearish potential in the EUR/USD currency pair.

The pound saw the biggest action in overnight trade as hawkish rhetoric from BoE governor Mervyn King propelled the unit higher on speculation that the UK central bank may hike rates to 5.75% as soon as the next meeting of the Monetary Policy Committee scheduled for July 5.