Tuesday 23rd Nov: Dollar grateful to the “Thanksgiving” holiday lull
The greenback did not see any improvement in its fortunes against the crosses but neither did it lose further ground in pre-holiday thinned trades.
The single currency is currently trading at 1.2978 as euro net long holders pare some of their positions ahead of Thanksgiving holiday.
Even some mild rumblings from Euro zone officials over the growth prospects getting hurt by brisk euro gains, have not transformed into any concrete intervention till now. The EU Monetary Commissioner Al Munia did not help matters by stating that Euro zone could remain competitive with euro at current levels as long as there were no volatile currency actions.
The BoJ Governor Fukui joined his European counterparts in exhorting US to tackle its twin deficits and not rely on currency adjustments for a "quick fix” solutions.
The Canadian dollar rose to a fresh 12-year high at 1.1826 against the greenback after the country’s central bank chief ruled out intervention unless in extraordinary circumstances.
The economic data releasing today from Japan - the September Industry index, tertiary industry report with forecasts of a fall, may give BoJ the handle it has been waiting for to pare the currency gains.
The US October existing home sales are expected to be flat.
Oil trades not much changed at $48.33 per barrel since the morning trade after hitting above the $49 mark in the European session yesterday.
The single currency is currently trading at 1.2978 as euro net long holders pare some of their positions ahead of Thanksgiving holiday.
Even some mild rumblings from Euro zone officials over the growth prospects getting hurt by brisk euro gains, have not transformed into any concrete intervention till now. The EU Monetary Commissioner Al Munia did not help matters by stating that Euro zone could remain competitive with euro at current levels as long as there were no volatile currency actions.
The BoJ Governor Fukui joined his European counterparts in exhorting US to tackle its twin deficits and not rely on currency adjustments for a "quick fix” solutions.
The Canadian dollar rose to a fresh 12-year high at 1.1826 against the greenback after the country’s central bank chief ruled out intervention unless in extraordinary circumstances.
The economic data releasing today from Japan - the September Industry index, tertiary industry report with forecasts of a fall, may give BoJ the handle it has been waiting for to pare the currency gains.
The US October existing home sales are expected to be flat.
Oil trades not much changed at $48.33 per barrel since the morning trade after hitting above the $49 mark in the European session yesterday.
posted by Drs Search @ 11:56 AM
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