Forex Analysis

After policy comes … valuation?

Hungary’s NBH yesterday left rates unchanged at 2.10% and said in the following press conference that

G10 FX rates are essentially unchanged. EURUSD is at 1.2474, USDJPY is at 117.82, and

Jean-Claude Juncker will present the EUR315bn EFSI (European Fund for Strategic Investment) programme to

Record-low yield levels were reached again yesterday on Euro-area government bond markets.

The pair slipped to NY session lows of $1.5651 on Monday after the release of strong US Q3 GDP data.

The pair also witnessed a quiet session this morning, as it briefly recovered some of

The pair started this morning’s session at $1.2474 after a $1.2402 to $1.2487 range last night in the US.

The JPY enjoyed a mild reprieve this morning as dollar-yen ran into profit-taking interest after earlier gains.

While the Euro is showing some recovery bounce off its recent lows,

While the Swiss is somewhat on edge because of a vote that would require gold to be used in conjunction with currency intervention,

A well-defined pattern of lower highs on the charts leaves the trend pointing down especially with

The Dollar rally has been so impressive over the last two months that a slight corrective setback has been given some attention.