Fx- Foreign Currency Exchange News: Tuesday 14th June, 2011
Overnight in Asia the Euro has rose against the JPY as China’s softer than expected inflation data and the Bank of Japans comments that indicated that they had not ruled out further easing and this has prompted some investors to stock up on high yielding riskier assets.
The GBP came out stronger yesterday with the weaker Euro prompting investors to move assets into Sterling overnight. The Bank of England also released it quarterly bulletin which indicated potential interest rate rises before the year end.
Today sees the release of US retail sales date for May and Economists think it will show sales falling by about 0.5%
The stocks in Europe are expected to open higher today supported by stronger Asian trade overnight.
EURO: The EUR/JPY opened the Asian trade at 115.62 and went onto dip into the 115.25 zone and then bounced to reach fresh session highs of 115.89.
GBP Overnight the GBP/USD extends its recovery from a two week low around 1.6220 jumping off support at 1.6360 0ver Asia to reach a daily high of 1.6427.
USD The USD/JPY is still trading in limited daily ranges with the pairs bearish tone persists despite mostly flat indicators.
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