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13/6/2012

Euro Strengthens Against Majors


The euro edged higher against its major opponents in early London session on Wednesday.The common currency climbed to a 2-day high of 1.2539 against the US dollar by 3:50 am ET.
The euro-buck pair is presently worth 1.2532 with 1.2575 seen as the next likely resistance level.
The single currency also advanced to 99.79 against the yen and 0.8054 against the pound around 3:50 am ET.
If the euro strengthens further, likely resistance levels are seen at 100.85 against the yen and 0.8085 against the pound.
The euro that climbed to a 2-day high of 1.2016 against the Swiss franc at the beginning of Wednesday's Asian session stabilized at 1.2012/15 in succeeding trading hours.
Source: RTT News

Currencies

The dollar traded near the strongest in more than six weeks against the euro amid bets the Federal Reserve will slow asset purchases on signs the world’s biggest economy is accelerating.
The Dollar Index (DXY) snapped a five-day rally, the longest since February, after weaker-than-forecast reports on U.S. unemployment claims, housing and inflation damped bets the Federal Reserve will slow its bond purchases.
The euro weakened for a sixth day against the dollar, the longest losing streak in 12 months, after a report confirmed consumer-price inflation in the region slowed to the least in three years in April.
The euro fell to the lowest level in almost six weeks against the dollar after a German government report showed the economy expanded less than analysts predicted, damping demand for the region’s assets.
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