10 October, 2013
The currency in focus during the European session was on the sterling because of the Bank of England policy announcement.
The British pound rose after the Bank of England kept its monetary policy unchanged as expected, leaving the key rate at a record low 0.5 percent and the asset purchase program at GBP 375 bln.
The UK economy has shown signs of further recovery this month, which lessens the prospect of more asset purchases (This is good since bond buying tends to weaken the value of the currency).
GBPUSD rose to $1.5970 from an earlier low of $1.5916.
The Euro gained against the US dollar today as general risk sentient in the market was up on optimism that the US debt ceiling talks will progress after news that the two parties in Washington have agreed to get back to negotiations.
It is hoped that a deal will be reached before the October 17 debt ceiling will be reached, and thus a resolution will help avert a default by the world’s largest economy.
The dollar gained against the yen and peaked at 97.88 yen in the European session today. As the US session came around, the USDJPY fell after some disappoint US jobless claims data, bring dollar back down to 97.59.
The number of Americans filing for unemployment claims leaped by 66,000 to 374,000 claims, the highest level in six months.
The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...
The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...
The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625
The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...
The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...
The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...
The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...
The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...
The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...