Source: ForexYard
The euro saw moderate gains against the US dollar in overnight trading, as a positive US manufacturing report from yesterday continued to boost risk appetite. That being said, the common currency remains close to a recent three-week low, and analysts are warning that bearish movement may continue occurring until Spain makes a formal request for a bailout package. The Australian dollar fell to a one-month low against the greenback last night after RBA unexpectedly decided to cut Australian interest rates.
Main News for Today
UK Construction PMI- 08:30 GMT
• The British pound has seen significant bearish movement against the US dollar in recent days
• Any better than expected data today could help sterling recover some of its recent losses
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