We are seeing US dollar weaknes across the board as EURUSD trades above 1.4040. Offers at 1.4060 look like they will be challenged very soon.
EUR at highs of the day
Source: www.forexlive.com
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Cable slides in early trade
Cable is starting the new week on the defensive, presently down at 1.5810. The Centre of Economics and Business Research, in its latest UK prospects, is predicting the Bank rate will remain at 0.5% until 2011. They also expect the Old Lady to do further quantitative easing, feeling that the...
Forex: EUR/AUD lowers to 1.6296
The EUR/AUD eased from threatening 1.64 to steadily lose ground to remain at 1.6296. The mood has been bearish for the pair in keeping with the monthly trend. However, while there is a down bias for the pair, the Aussie is set to firm as interest rates are set to rise by at least 25 basis points...
Trichet: I did it my way
JCT, speaking at Jackson Hole Saturday, said that criticism of the ECB for being behind the curve on interest rate cuts was misplaced. “A gradualist approach of this kind may be the most effective antidote to the threat to price stability,” he said. That;s a bit of revisionist history, as...
Australia June consumer confidence index +12.7% to 100.1
This is the second largest result in the history of the WestPac/MI index and the biggest rise in 22 years. The AUD/USD has popped up to .8035 from...
Speculation over early Tarp repayment boosting risk sentiment
It is always interesting to see which story grabs the markets attention in early New York trading and with the market in recent weeks in optimistic mode, maybe it should come as no surprise that the news that the US Treasury is hoping that ten banks can repay their Tarp funds early, is adding to...