Quick FX Overview

The US dollar is mostly softer, but consistent with this week’s developments, the Japanese yen and Swiss franc are laggards. Additional intervention was not seen and the dollar has held above the JPY85.50. Japanese exporters are thought to have been helping provide a cap in front of JPY86.00.

The euro and sterling are trading near 5-week highs. Look for the euro to now have support near $1.3050 as it advances toward the $1.33 area in the coming days. Sterling is keeping pace with the euro and, assuming support ahead of $1.5550 remains intact, it will likely eat through the offers in the $1.5730-50 band and stretch another cent or two. The dollar-bloc is bid and the Australian dollar is at new multi-year highs.
Quick FX Overview Quick FX Overview Reviewed by Marc Chandler on September 17, 2010 Rating: 5
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