Friday, November 30, 2012

Latest Forex News 30-11

EUR: Through the day-to-day noise, the euro has done reasonably well over the past two weeks. Still, to really attract attention, this current push higher would need to break through the September/October high and get above 1.32. Some worries that the Greek debt buy-back proposal is already unravelling.

JPY: Weaker overnight, some talk that it was related to Softbank’s purchase of Sprint. Japan’s government announced a JPY 880bn stimulus package, as mooted a few days ago.

AUD: Since early October, has respected a gently-sloping uptrend, although with an occasional wobble. These days trades more like a safe-haven currency than a high-beta one – yesterday it fell despite the fact that risk assets strengthened.

GBP: Had a healthy bid despite total lack of new news. Indeed, has looked comfortable for two weeks now, without really breaking any new ground. Needs to trade above 1.61 to really test the mettle of the bears.

Source Fxpro

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