Currency Market Updates

Currency: Dollar versus Euro

As the euro fights back against the USD, it seems so much is going on that the Brits are blaming the weather again (any excuse will do right now, eh Gordon?) The Yen is worrying the Japanese PM Hatoyama and could be in for a big sell off.

The Sterling Roller Coaster Continues

Although sterling made some ground earlier it was short lived…Greece listen to Germany on rescue plan while we wait for Bernanke’s testimony to the congressional committee.

Obama’s Proposed Legislation is Digested

The markets became very flighty yesterday afternoon as President Obama called for the curbing of US banks riskier activity. This led to a scramble to safer currency shores but the markets could not seem to work out where to drop the anchor. The USD gained and then lost ground, the Yen had good gains as did sterling in the end and the commodity currencies softened.

Sterling Eyes 1.15 Against The Euro

Sterling is continuing its rally against the euro but has fallen back against other major currencies. GBP/EUR is pushing up and has already hit the key 1.15 level in trading today as the euro is pummeled against the major currencies. Later today we have US PPI and housing starts as well as earnings from various financial entities including Northern Trust, State Street, US Bancorp, Morgan Stanley and Wells Fargo.

USD Starts to Slide Again

As the USD slides again expect thin trading and volatility in the week ahead; today we have a holiday in Japan and on Thursday we have Thanksgiving.

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