Most crosses in the FX market have had a stagnant day with the US markets closed due to the Independence Day holiday. In the absence of economic events, the focus was on Standard & Poor's saying that debt rollover plan may put Greece in "selective default". However, trading volume continued to decline, confining major crosses to narrow ranges.
EUR/USD has held above 1.4500 despite the S&P comments, underpinned by optimism over Greece getting a second bailout from the EU/IMF, and recently advanced to a session high of 1.4545. The pair had reached a 1-month peak of 1.4576 during today's Asian session.
After hitting a 2-week high at 1.6140, GBP/USD couldn't sustain momentum and fell below 1.6100. Cable has spent the rest of the day consolidating sideways just below the mentioned psychological level.
USD/JPY has moved in a tight range below 81.00 along the day while USD/CHF has done the same with 0.9500.
The Aussie and the Loonie pared last week gains against the Greenback although the corrections have been limited due to the lack of volume. AUD/USD is hovering around 1.0730 while USD/CAD holds barely above 0.9600.
EUR/USD has held above 1.4500 despite the S&P comments, underpinned by optimism over Greece getting a second bailout from the EU/IMF, and recently advanced to a session high of 1.4545. The pair had reached a 1-month peak of 1.4576 during today's Asian session.
After hitting a 2-week high at 1.6140, GBP/USD couldn't sustain momentum and fell below 1.6100. Cable has spent the rest of the day consolidating sideways just below the mentioned psychological level.
USD/JPY has moved in a tight range below 81.00 along the day while USD/CHF has done the same with 0.9500.
The Aussie and the Loonie pared last week gains against the Greenback although the corrections have been limited due to the lack of volume. AUD/USD is hovering around 1.0730 while USD/CAD holds barely above 0.9600.
No comments:
Post a Comment