Against the dollar, the sterling moved down in early Asian deals and hit as low as 2.0024 before changing direction at about 2:30 am ET. Of late, the pound has staged a sharp surge and is now worth 2.0092 dollars. Upside, 2.00131 is seen as the next key target level for the sterling.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 3:17am
The Swiss franc moved slightly down against the US dollar during the Asian deals on Tuesday but gained ground by about 2.25 am ET. Moving from 1.2044, the franc hit as high as 1.1975 of a dollar lately. If the pair strengthens further, 1.1928 can likely be the next target level.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 3:19am
The Japanese yen drifted higher against the US dollar in the early Asian deals on Tuesday, and hit as high as 115.45 by about 12.35 am ET. Thereafter, the pair reversed its direction but soon started to move sideways in a loose range. The dollar is now worth 115.56 yen.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 3:22am
The US dollar has staged a sharp fall against the euro lately. Reversing its Asian trend, the euro had been ticking up against the greenback in early European deals, and the recent surge has added to its gains. Up from today’s early morning low of 1.3617, the pair has lately equaled 1.3670 and is now testing a key level of resistance in the near term.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 3:26am
The US currency moved higher against its Swedish counterpart during the Asian and early European deals on Tuesday. However, the pair lost its ground by about 3:10 am ET, and down from 6.8993, the pair hit as low as 6.8492 lately. The Swedish PPI Annual Inflation data was released shortly before, and is likely to have affected the deals in the pair.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 3:27am
Fxstreet.com (Barcelona) – Without important events scheduled until thursday in which we’ll see money supply and consumer confidence on friday, we will likely see range price action prior to the releases. Perhaps, the actual triggering of major moves will be economic events to be published in U.S. since we will know GDP annualized data on thursday, while for friday we’ll have personal income and spending followed by Bernanke speach.
Nicole Elliott, a technical analyst at Mizuho Corporate Bank, sees price performance as a signal to take long positions as affirms: “allow for many random moves either side of 2.0000 for the next few weeks. All dips are seen as long term buying opportunities for a move higher late this year.”
Bogdan Parascanu, a currency analyst at FX Instructor, estated with respect to the last movement in the pair: “same as in the euro we can clearly spot that we are trading inside a range, and an important one at that between 2.0000 and 2.0200.” He also added: “we can’t but just wait to see if the down move has enough strength to get the pair under 2.0000 or if the support level will hold and even push the pair back up higher and perhaps above 2.0200.”
Originally from FXstreet.com: Latest News on August 28, 2007, 10:17am
The US currency trended higher against the Danish krone in the Asian and early European deals on Tuesday. However, the pair lost its ground by about 2:25am ET, and falling from 5.4675, the pair touched as low as 5.4526 at 4:30 am. As of now, the dollar is trading near 5.4539 against the Danish currency, with 5.4513 seen as the near term support level.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 2:44am
The Japanese yen lost ground against its European counterpart in the mid-Asian deals on Tuesday, and moving from 157.18, the pair hit as low as 157.99 by about 4.50 am ET. By virtue of these deals, the Yen has reversed much of its early Asian gains against the common currency.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 2:50am
The Swiss franc trended up against the European currency in the Asian deals on Tuesday but lost ground by about 2.20am ET. After hitting as low as 1.6418, the franc staged a sharp rise and remained higher amid the Swiss UBS Consumption Indicator for July.
Originally from RTT - Currency Trading Alerts on August 28, 2007, 2:52am
Another round of risk aversion hit the currency market during the Asian session after traders learned that Boston based State Street bank held $22 Billion…
Originally from Currency Trading News by DailyFX on August 28, 2007, 6:17am