November US PPI came out higher than expected +3.1%yoy vs +2.9% fcst, highest reading since early 2012.

USD traded higher across the board sending EUR$ to near its key support around 1.1700-20, $JPY to 113.75 high before settling down ahead of US CPI and FOMC tomorrow.

FOMC is expected to raise FF rate by 25bp tomorrow for the third time this year.