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EUR/USD2014-04-16 18:25 UTC

EUR-USD touched 1.3805 lows, down from the N.Y. session peak over 1.3840. Softer core EU CPI, the ECB's desire for a weaker currency, and an improving U.S. economy should all conspire against the euro, and we look for EUR-USD to remain in sell the rally mode. Light intra day sell stops were reported at 1.3790, though some bidding interest from London was noted into the figure. The pairing managed afternoon highs just over 1.3830. Read More 

XE Market Analysis

  • North American Edition2014-04-16 11:21 UTC

    The dollar has traded mixed against the other majors, rising against the yen but declining against the euro amid a strong rally in EUR-JPY, while Cable was well bid following a much better than expected drop in U.K. unemployment to 6.9% from 7.2% last. Sterling was the outperformer, with Cable surging some 100 pips to a peak of 1.6818, though stalling just shy of last week's peak of 1.6820 and the Feb-17 major-trend peak at 1.6822. EUR-USD got a lift on ... Read More 

  • European Edition2014-04-16 06:46 UTC

    USD-JPY nudged above 102.00 to an eight-day high of 102.25 on the back of general yen weakness as the currency, once again, correlated inversely with stock market direction. EUR-JPY lifted to a five-day peak of 141.32. The MSCI Asia Pacific equity index was up 0.7% in PM trade in Tokyo while the Nikkei surged over 2.5%, benefitting from the tech-led rebound on Wall Street on Tuesday. China Q1 GDP also came in above expectations at 7.4% y/y. Japanese ... Read More 

  • Asian Edition2014-04-16 18:25 UTC

    With the exception of a few flurries of activity, FX trade was fairly quiet in N.Y. on Wednesday. The BoC left rates alone as expected, though was dovish sounding enough to get USD-CAD over 1.10 again. Stronger U.S. production data helped the dollar to a degree, but major pairings were largely mired inside of tight trading bands. USD-JPY moved inside of 102.20-40, while EUR-USD tested 1.3800, before moving marginally higher. Cable meanwhile, traded either ... Read More 

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