| Pound Remains Supported As U.K. GDP Revised Higher, But Downside Risks Remain (Daily FX) The pound built upon its recent gains on the back of an improved second quarter GDP reading reaching as high as 1.6340. The second reading of growth was revised higher to -0.7 from -0.8% as private consumption and government spending were stronger than initially estimated. us.rd.yahoo.com |
US Dollar, Japanese Yen Pull Back as Equities Rise in Low Volume Holiday Trading (Daily FX) - Euro Fails on Test of 1.4810 - German ZEW Report on Tuesday - British Pound Down as Traders Bet on Expansion of Quantitative Easing - Commodity Dollars Continue to Dominate on Building Risk Appetite us.rd.yahoo.com |
Dollar slides after G-20 stimulus pledge (AP) The dollar slid Monday after the world's leading economies agreed to keep stimulus measures intact for the time being. The euro briefly pushed back up over $1.50 after finance ministers from the Group of 20 rich and developing countries steered clear from addressing the weakness of the U.S. currency against most of its competitors at a meeting over the weekend. us.rd.yahoo.com |
Canadian Dollar Finding Support on Firming Oil and Yield Expectations (Daily FX) The Canadian dollar has started to gain favor on the back of an improving outlook for the economy and firming oil prices. Crude prices traditionally are the main driver of “loonie” direction but we have seen that relationship wane in regards to the USD/CAD as broader greenback strength took temporary hold of the wheel. us.rd.yahoo.com |
USD/JPY Reverses, GBP/USD Testing 20-Day SMA for Support (Daily FX) The Japanese Yen continued to benefit from the rise in risk aversion and remains the best performing currency against the greenback on Thursday, while the British Pound tumbled lower during the overnight session to reach a fresh weekly low of 1.6126. us.rd.yahoo.com |