Written by FastBrokers House
2010-12-15
We saw a modest rebound in the USD in the early part of the session but about half of those gains have now been given back after the market neared USD-selling levels in USD/JPY and EUR/USD.
USD/JPY has tried to follow the lead from US treasury yields (which have reached 7-month highs) but rallies have been met with very solid selling interest. The Tankan report did not have a major effect on the Nikkei or on the JPY. Ranges: USD/JPY 83.61/95, EUR/JPY 111.84/112.07
EUR/USD slid lower in line with the broadly higher USD but momentum was sparse. Bearishness in crosses like EUR/CHF have also added to the slightly soft tone today. Ranges: EUR/USD 1.3337/82, EUR/CHF 1.2827/52
The AUD has slid lower today despite some moderately bullish factors such as Chinese FDI, colling of chat regarding Chinese rate hikes and some strong dmestic consumer sentiment. Ranges: .9933/93
Cable and EUR/GBP have been uneventful. Ranges: 1.5743/80, .8470/90
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