Forex Analysis

USD Mid-day Analysis

While the Dollar remains close to Tuesdays low this morning,

The Canadian is showing impressive chart action and like the Pound it sits right under acritical upside breakout on the charts.

Weaker UK mortgage market approvals and relative strength in the Euro and

Safe haven inflows into Switzerland are starting to unwind. According to SNB data,

The EUR and the JPY held steady in Asia, trading at 1.274 and 108.1 respectively.

The main event is the Fed meeting tonight. Given the recent market turmoil, the Fedis likely to

German yields edged only slightly higher, but US yields climbed some more on the back of some encouraging data releases

The pair closed in NY Tuesday at $1.6131 after rate had been driven to intraday highs of $1.6182 as the dollar lost

The pair closed in NY at $0.8855 last night after having traded a $0.8795-0.8882 range.

The pair opened this morning at $1.2734 after last night’s $1.2693 to $1.2765 range during the US hours.

The pair opened at Y108.14 after hitting a high of Y108.17 last night in the US.

There may be no inflation in New Zealand but it’s not because there is no growth. Quite the opposite.