27 November, 2013
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.
While the second reading was in line with expectations, gives encouraging signs of a steady recovery in the UK economy. Q2 GDP rose at a 0.8% rate quarter-on-quarter, which was the quickest pace in over three years.
The pound surged to an eleven-month high of $1.6326 in the European session. The pound pushed euro lower, sending EURGBP down to 83.30 pence from 83.85 pence.
The euro outperformed against the dollar and the yen today after being boosted by German consumer sentiment numbers which reached a six-year high heading into December.
Also supporting the euro was news that German Chancellor Angela Merkel’s conservative Christian Democrats party and the centre-left Social Democrats finally reached a deal to form a coalition government, two months after the federal elections.
The euro hit a fresh four-year high of 138.52 against the yen and a one-month high of $1.3612 against the dollar in the European session.
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 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...
The US dollar is broadly stronger against its major G10 counterparts on Monday while the yen remains weak as a result of a sell-off due to outflows from safe havens like itself...