2010-07-07
Market Report –Afternoon- 7 July 2010
» USD regained some ground against the EUR and other risk-sensitive currencies in Asia today as weak regional share markets prompted hedge funds and other short-term investors to buy back the safe-haven U.S. unit. EUR/USD also struggled on the back of solid EUR/JPY selling.
» USD/JPY Struggled again today after initially opening the Asian session at 87.65/70. 87.00/10 area now seems to offer short term support but many traders are still content to stay short.