Forex: EUR/USD tests 1.4400 level

on January 08 2010 9:06 AM

FXstreet.com (Barcelona) - The Euro is taking advantage from the current weak Dollar situation on the back of worst than expected NFP data with the EUR/USD testing 1.4400 level after jumping 150 pips from 1.4260. Currently the pair is trading at 1.4380/90, 0.60% above today's opening price action at 1.4305.

The US nonfarm payrolls for December fell by 85,000, demonstrating that sustained job growth remains elusive for the world's largest economy. This result reverses two months of declining job losses and is well behind the markets expectations of a more marginal loss in the range of 2,000 positions.

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