The currency is holding steady versus the USD as the market awaits the release Wednesday of current account data and Thursday of GDP data for fresh trading leads. Investors are also watching closely developments in Spain for implications for risk sentiment after yields on Spanish 10-year yields hit a record 7.29% on Monday. Greece, Ireland and Portugal all filed for international bailouts after their 10-year yields topped 7%. Spain will sell 12- and 18-month bills today. The rate is at $0.7921 versus $0.7919 in late New York on Monday. It is at Y62.67 versus Y62.66 on Monday. On technical front, the market focuses on $0.7957, the 200-day moving average.
EasyForexNews Research Team