2010-07-22
Market Report – 22 July 2010
» The USD fell today in Asian trade to 86.30/40 YEN, nearing a seven-month low of 86.25/30 yen hit last week. As some had suspected Fed’s Bernanke did the pairing no favors yesterday, with his downbeat assessment of the US economy driving funds into the safe haven yen. They’ve confirmed, at least in the short term, that we continue to be at the mercy of US leads.
» The EUR/USD trading action has settled down after an early morning drop for the common currency. There has been a definite lack of economic related activity with no major announcements out of Europe or the United States today. Currently the EUR/USD pair is mirroring the US equity indices that remain in hover mode near the opening levels of the day. This could perhaps be the calm before the storm as traders bide their time waiting for the slew of economic reports due out of Europe tomorrow.
For Full report please click on the link below;