FX Update - EUR/USD
First Published Thursday, 9 July 2009 from Need to Know News
A German house lifted EUR/USD in to 1.39 on two waves of buying interest, but the pair was unable to overcome standing offers above and is currently changing hands close to 1.3870. US equities have struggled today, which has also sapped market momentum, but equally dollar buying interest is limited after news of S&P action on 22 U.S. banks, which included a negative outlook on Fifth Third Bancorp and a downgrade on Wells Fargo.
Earlier on in the session a prominent US name increased its short position on EUR/USD, but the pair has seen limited downside since an Asian name lifted the pair out of 1.3750 on Tuesday and caught the market short in the process. The same name was a heavy seller of overnight 1.3700 EUR puts.
- Equities Close
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- Dollar Weak throughout Friday session
The Greenback opened the day in a weakened state vs EUR and GBP as profit taking set ahead of U.S....continued
- Obama FED picks weaken USD in thin trading conditions - WSJ
WSJ gist...picking doves weakens dollars...continued
- Toyota addresses Event Data Recorder issues
...several models have EDRs that do not record pre-crash data....continued
- Trichet: 'Pure Speculative Activities' Must Not be Allowed to be 'Dominating Force', Ensuring Sufficient Capitalization 'Foremost Life Jacket'
...continued
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