Chart Driven Forex Investors Push Euro Up
The Euro has been pushed upwards by chart driven Forex investors following the upward trend and also by Forex investors re-evaluating their interest rate expectations for the region and buying more Euro’s to invest in European assets.
In other news the Bank of England’s (BoE) inflation report contributed to pressure on the GBP as the Forex [...]
Dollar (USD) Gain on Euro, GBP, Yen…
The USD drifted higher against major rivals as dealers monitored the outlook for interest rates, while the GBP also weakened on news that a Bank of England policymaker had suddenly died.
The Euro fell to 1.2637 dollars in early European trading from 1.2659 dollars late on Wednesday in New York.
The USD climbed to 115.14 yen from [...]
Russia Shifts Part of Its Forex Reserves from Dollars to Euros
On Thursday, June 8, Russia became the latest in the list of countries that shifted a part of its Central Bank reserves from the USD. Sergei Ignatyev, chairman of the Central Bank, said that only 50 percent of its reserves are now held in dollars, with 40 percent in Euro and the rest in [...]
Read more »EUR/USD & GBP/USD in Consolidation Phase?
In the past few days we have seen a bearish scenario develop slowly in the EUR/USD and GBP/USD pairs. The USD rallied mostly on Wednesday as both French and Germany’s economy ministry agreed that an ongoing rise in the euro could harm exports. French Finance Minister Thierry Breton even went further by saying that “everything” [...]
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