Wednesday, 26 October 2011.
October 26, 2011 Leave a comment
AUDUSD
Investors are again looking to the yen as a safe haven ahead of the European summit later in the trading session. USDJPY is trading near the post World War II lows of 75.76 after Finance Minister Jun Azumi said today that his department will take decisive measures to stem the yen’s rise.
The AUDUSD (see above chart) has dropped over 50 points from highs of 1.0437 to lows of 1.0358 after the Bureau of Statistics released numbers that showed that core inflation unexpectedly dropped to a 2.3 per cent annual pace last quarter sending investors to sell the local currency in anticipation that the Reserve Bank of Australia will cut interest rates next week.
The EURUSD has been relatively muted range trading between highs of 1.3939 and lows of 1.3893 ahead of the emergency summit being held to reach an agreement on the measures to solve the region’s debt issues.
The Canadian dollar has been steady against the majority of its trading counterparts today after being weak overnight after the Bank of Canada lowered its growth and inflation forecasts. After trading up from below 1.0000 overnight the USDCAD has come off Asian session highs of 1.0178 to recent lows of 1.0144
|
CURRENCIES |
|
|
Last |
|
|
AUDUSD |
1.0362 |
|
EURUSD |
1.3919 |
|
GBPUSD |
1.6022 |
|
USDJPY |
76.04 |
Source Bloomberg and
Dow Jones Newswire
