Currencies in ranges as all eyes are on Fed policy decision

September 18, 2013

The Asian session on Wednesday was very quiet as investors were reluctant to take on fresh positions ahead of the outcome of the Federal Reserve policy review due later at 1800 GMT.

Tapering is expected in some form and some analysts reckon the Fed will scale back on nits bond purchases by at least $10 billion a month from its current $85 billion a month. Anything above expectations will make the dollar surge higher, but of course anything below $10 billion will disappoint markets and weaken the dollar.

The dollar is hovering at a three-week low against a basket of currencies, also trading lower against the euro and sterling and steady against the yen. Major G10 currency pairs were range-bound for the whole Asian session.

EURUSD held onto yesterday’s gains induced by strong German economic sentiment data and kept within a range of $1.3346 and $1.3363.

GBPUSD barely moved and remained at the key support level of $1.5900 and held above Friday’s close.

USDJPY  has been stuck in a range after filling the gap on Monday as a result of the news of Larry Summers withdrawing his bid for the Fed Chair. The pair traded between 99.10 and 99.32 yen in the Asian session today.

Publication source
FxNet information  FxNet reviews

December 7, 2016
GBP falls as industrial & manu. production miss
The pound has come under pressure in London trading today. EURGBP buying has been a driver, with the cross rallying some 0.5% to a peak of 0.8510, since ebbing to around 0.8490. Gains failed to sustain above the 20-day moving average, which is at 0.8503...
December 7, 2016
Unexpected fall in UK economic indicators
This morning saw a substantial drop in both the manufacturing production and industrial production in the UK for the month of October which comes as a timely reminder that the economy remains vulnerable. The pound ended its recent rise against the US dollar yesterday after hitting a 2-month high...
December 7, 2016
U.S. dollar recovers from Monday lows
The U.S. dollar index managed to recover from a 14-day low on Monday at 99.87 with prices turning bullish yesterday. However, the gains remain limited within Monday's range with further upside likely to see the 100.80 resistance being established...

FBS Rating
 FXTM Rating
XM Rating
OctaFX Rating
FIBO Group Rating
Trade360 Rating

TopOption Rating
EZTrader Rating
Beeoptions Rating
Binary Brokerz Rating
Banc De Binary Rating
24option Rating