• Pair moving higher into early Europe trades, weak China data underpin
  
  
• China April industrial output +5.9%y/y, retail sales 10%y/y vs exp 6.0%, 10.5% respectively
  
  
• April  urban investment rose 12.0%y/y vs exp 13.5%
  
  
• Pair last 1.3356-60, risks fresh squeeze to 1.3400 handle