A one standard deviation drop is no small thing. Actual at 85.4 vs. 90.5 Bloomberg consensus, down from upwardly revised 94.2.

The technical picture is a recent strong rise, with the price having just reached a major round number at $0.7000, which is starting to act as resistance.

Global markets are entering a new macro regime marked by broad US dollar weakness.

Indian share markets are trading higher with the Sensex trading 381 points higher, and the Nifty is trading 119 points higher.