Thursday, 27 October 2011.
October 27, 2011 Leave a comment
EURUSD
The higher yielding assets have seen some solid buying during the Asian session after the European lawmakers reached a broad agreement on the future of Greece.
The euro has risen against all of its trading counterparts today after Germanys Merkel announced a deal in which will see the private owners of Greek bonds accept a 50 per cent write down on their investment which will reduce Greek debt by 100 Billion Euros. French President Nicolas Sarkozy was quoted saying this is result will relieve the whole world that was expecting a decision that was strong from the Eurozone. The EURUSD (see above chart) traded up from lows of 1.3864 prior to the announcement to highs of 1.3994.
The Aussie dollar has gained against all of its 16 major trading counterparts as sentiment improves on the Euro deal, increasing the demand for the higher yielding currency. The AUDJPY has traded up from lows of 79.12 to recent highs of 79.79.
The Canadian dollar has traded above parity with the USD on the back of the European leaders reaching an accord. The USDCAD has traded down from highs of 1.0050 at the beginning of the session and recently traded as low as 0.9995.
The NZDUSD has continued to strengthen today after early in the session the Reserve Bank of New Zealand Governor All Bollard said that that rate rises may be required in the near future. The NZDUSD has recently
traded as high as 0.8060.
|
CURRENCIES |
|
|
Last |
|
|
AUDUSD |
1.0480 |
|
EURUSD |
1.3959 |
|
GBPUSD |
1.6005 |
|
USDJPY |
76.10 |
Source Bloomberg and
Dow Jones Newswire
