USD
The dollar rose up yesterday. EUR/USD fell to 1.3140 and GBP/USD fell to 1.9600. US Nov imported price index rose 0.2%, first time since Aug this year. The data showed that the US still have short term inflation risk and traders bought the dollar after that. Later the NZ Empire index rose from 18.0 to 23.1 which supported the USD further. According to the CBOT fed funds futures, traders priced in around 12% of chance for the rate cut next year Q1 and the dollar lift up by the diminishing rate cut expectation.

EUR
EUR/USD fell to 1.3140 yesterday due to the strong US economic data. Euro cross rate retraced back down which weakened the Euro. EUR/CAD fell to 1.5210, EUR/GBP fell to 0.6700, and EUR/AUD also fell to 1.6800 level which was bearish to the Euro. Technically, EUR/USD breached the 21MA at the daily chart and would be likely to fall to 1.3050 level.

CHF
USD/CHF rose to 1.2160 level. Yesterday the SNB raised interest rate again by 0.25% and the after policy statement revised down the inflation expectation. The central bank believed that the 2006 inflation will only rise 1.1% and below the 2% central bank target level. 2007 inflation expectation revised down from 1.1% to 0.4% and the market believes that the room for more rate hike was limited. EUR/CHF rose sharply to 1.5980 and GBP/CHF rose to 2.38 level which was bearish to the CHF. Technically, USD/CHF resistance is at 1.2180 and support is at 1.2100.