The first trading days of April proved to be a volatile opening on the currency markets with contrasting data releases from all the major currencies. The currency that benefited most was the euro.

GBP
Weak manufacturing data dragged the sterling lower but a poor ISM reading from across the Atlantic helped the sterling recover from three-week lows against the greenback.

USD
The dollar had a strange opening to the month with a fairly volatile and mixed trading session. The dollar strengthened to three-week highs against cable. However, the ISM report dragged the currency lower against the sterling, the yen and the euro.

EUR
Strong economic growth continues in the region with German, French and Italian manufacturing all accelerating last month.

JPY
The yen fell after a weaker than expected Tankan report prompted a sell off throughout the Asian trading session. Despite this decline the currency did manage to recover in European trading, as activity is still fairly solid.

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