Source: ForexYard
The euro remained within reach of a two-month low against the US dollar and a one-month low vs. the Japanese yen during overnight trading, as concerns regarding the economies in Spain and Greece boosted safe-haven assets.
After falling more than 50 pips during afternoon trading yesterday, the USD/JPY was able to stage a minor upward correction during the Asian session. The pair is currently trading around the 79.50 level, down from yesterday’s peak of 79.93.
Crude oil and gold spent most of the overnight session range trading, as investors continue to wait for news regarding the US “fiscal cliff” and a potential Spanish bailout.
Main News for Today
US Prelim UoM Consumer Sentiment- 14:55 GMT
• Today’s news is forecasted to come in at 82.6
• Should the indicator come in above 82.6, investor confidence in the US economic recovery could receive a boost, which may help the USD recoup some of its losses against the yen before markets close for the weekend
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