North American Summary and Highlights 20 Dec

North American session
The USD saw some early slippage with stronger than expected consumer confidence and existing home sales data getting little response but picked up later as equities turned negative. EUR/USD rose from 1.0935 to 1.0970 before falling back below 1.0950. EUR/GBP held near .8650. 
USD/JPY advances stalled ahead of 147. USD/CAD saw a low of 1.3312 shortly after the release of BoC minutes, which saw concern over the resilience of shelter inflation but reversed course as equites slipped, which also saw AUD/USD weaker. 
European morning session
GBP fell after the much lower than expected UK CPI figure, with the ONS indicating that it was driven by eight sub categories.  The sharp decline in core CPI from 5.7% to 5.1%, will provide comfort in itself to the BOE but also raises questions whether UK inflation is slowing more quickly than BOE assumptions.  GBP lost ground across the board with 1.2630 the low for GBP/USD.   
Elsewhere, the USD consolidated across the board, with Fed officials this week seeking to temper early easing talk in the market and this has contained the USD softness.