Tuesday, July 6, 2010

Risk appetite resurfaces, Yen and Dollar fall

Forex Special A much higher tolerance for riskier practices sparkled a renewed optimism to push risky assets higher. Investors were involved in a race to catch the ongoing bullish momentum. As a result, USD and JPY drifted to losses against its rivals.

EUR/USD is printing new daily highs and is just a few point away from hitting 1.2600 area. GBP/USD recovered 1.5200 mark, after rebounding strongly from 1.5082 lows. AUD/USD had an impressive surge from lows and is now threatening 0.8500 level. USD/CAD retreated from highs an fell capped by 1.0600

In connection with the Japanese crosses, USD/JPY flew higher approaching 88.00, after trading lower at 87.40 earlier on. EUR/JPY was driven up to hit a 1-week high at 110.74. GBP/JPY also marched up halted at 133.60 level. AUD/JPY soared to make a new daily high at 74.63 area.

AUD/JPY (Jul 06 at 11:22 GMT)

74.65/69 (1.35%)

H 74.735 L 72.72

[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Jul 06 at 09:13 (15-minute timeframe)


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