Source: ForexYard
The euro took losses against both the US dollar and Japanese yen during morning trading, as risk taking among investors following the approval of a new round of Greek bailout funds appears to have cooled off.
The EUR/USD has fallen close to 50 pips since the beginning of European trading, and is currently trading at 1.2948. Against the Japanese yen, the common currency has given up more than 60 pips since this morning, and is currently trading at 106.25.
Turning to the rest of the day, analysts are warning that the US Core Durable Goods Orders Report is likely to come in well below last month’s, signaling that US businesses are investing less ahead of the upcoming “fiscal cliff”. Should the indicator come in below expectations when it is released at 13:30 GMT, risk aversion may result in the euro extending its losses against the JPY.
Forex Market Analysis provided by ForexYard.
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