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12 Jun 2013
Session Recap: EUR/USD highest since Feb 21; USD/JPY defends 95.00
FXstreet.com (Barcelona) - An early USD sell-off found dip buyers as the NA session went along, particularly in the USD/JPY where after a low of 95.15 by the European close, a decent bounce took the pair back above 96.00.
The euro managed to find new higher ground along as the US trading got underway, posting its highest since February 21 at 1.3360 before the pair drew back towards 1.3330, with the bullish bias remaining intact.
Cable hit a fresh 4-month high at 1.5700 before a shallow retreat. The currency was benefited by inspiring UK jobs data. Meanwhile, the commodity currencies failed to enjoy a much needed follow through from gains in Europe, especially the Australian Dollar, which after posting day highs at 0.9560 lost the 0.95 to close at 0.9470. The USD/CAD had a false break of 1.0160 only to end back above 1.02, first day of gains in the last 5 after Friday's best Canadian jobs number in a decade.
Main headlines in the US session
- Spain says bank bailout program ends in January. Wanna bet?
- Greece up in arms against closure of state broadcaster ERT
- Portugal’s President urges ECB to buy Portuguese bonds–BBG
- IMF approves €657 million bailout tranche for Portugal
- ECB’s Coeure accuses governments of lacking a sense of urgency
- German finance committee gives the thumbs up to bank supervision law
The euro managed to find new higher ground along as the US trading got underway, posting its highest since February 21 at 1.3360 before the pair drew back towards 1.3330, with the bullish bias remaining intact.
Cable hit a fresh 4-month high at 1.5700 before a shallow retreat. The currency was benefited by inspiring UK jobs data. Meanwhile, the commodity currencies failed to enjoy a much needed follow through from gains in Europe, especially the Australian Dollar, which after posting day highs at 0.9560 lost the 0.95 to close at 0.9470. The USD/CAD had a false break of 1.0160 only to end back above 1.02, first day of gains in the last 5 after Friday's best Canadian jobs number in a decade.
Main headlines in the US session
- Spain says bank bailout program ends in January. Wanna bet?
- Greece up in arms against closure of state broadcaster ERT
- Portugal’s President urges ECB to buy Portuguese bonds–BBG
- IMF approves €657 million bailout tranche for Portugal
- ECB’s Coeure accuses governments of lacking a sense of urgency
- German finance committee gives the thumbs up to bank supervision law