Consolidation of the US dollar

The US dollar remains under pressure despite modest gains against the euro and the yen. USD/JPY rose to 112.50 during the American session, but eventually again the couple was dragged down and fell below 112 before settling slightly above that level. The only data published in the US yesterday were the trade balance in December, which showed that the deficit rose to its highest level since 2012.
The British pound made growth that has wiped out any downturn in the day after comments by the Bank of England, according to which, based on the current trend of inflation the bank may increase interest rates.
As the euro traded at lower levels against the dollar and fell to 1.0650, at the end of the day the single currency managed to erase some of the losses and ended the day at 1.0682. The initial decline was driven by a decline in German industrial production, which fell by 3% in December while investors had expected an increase. Turmoil in Greece also contributed to the decline of the euro as a 10 year bonds jumped by 8%.