EUR/USD - 1.4683.. Despite initial cable-led decline to 1.4614, euro traded narrowly but later staged a short-covering rebound after draft statements of the G20 communiques were released (see previous update), the relevant one was G20 leaders agree to avoid any premature withdrawal of stimulus but Nikkei-225 currently is still down 270 points. Expect intra-ay 'nervous' trading to continue n position adjustments more likely to influence nr term price movements. Bids remain at 1.4600/10 but expect selling interest fm 1.4700/30 region, if absorbed, euro my have a run up to 1.4760/70 later.
Join the Discussion