Forex Trading: 20 June 2014
The shared currency climbed for the second consecutive day against the dollar after the Federal Reserve stated that it will hold interest rates at close to zero for a considerable time.
Despite the reasonably solid economic data that we have seen of late, it appears that the Fed wants to maintain a cautious tone and that attitude hurt the dollar which had been firmly on its way up.
In the end, the EUR/USD pair closed 16 points higher at $1.3607.
Forex Trading: 19 June 2014
Slight caution ahead of the FOMC meeting triggered some buying in the euro against the US dollar during the morning session.
As the spread betting
market realised that the dovish tone will be here for longer, the shared currency continued its rally, gaining 49 points to $1.3595.
Forex Trading: 18 June 2014
pair dropped 25 points yesterday to $1.3547, effectively giving back the previous day's gains.
This came as signs of inflation pressure in the US buoyed the dollar up on anticipation of higher yields attracting heightened demand for the US currency.
Forex Trading: 16 June 2014
In a display of investor confidence, both Spain and Italy were successful in selling government bonds.
This was interpreted as yet another sign that the debt crisis in the Eurozone is finally on its way out.
Nevertheless, the common currency dropped slightly versus the US dollar, losing 13 points to $1.3539 on heightened demand for safe haven currencies following renewed violence in Iraq.
The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced.
By Jonathan Sudaria, 20 June 2014