Risk evasion continued Tuesday allowing the U.S. dollar and Japanese Yen to maintain their positions against the background of lack of economic reports planned earlier. First of all, it was caused by the expansion of spreads of Irish and Italian bonds giving rise to anxiety towards some EU member states. Even Obama’s promise to cut business activity tax by $ 200 bln. couldn’t abate investors’ fears of taking risks.
Dollar exchange rate remains in the green zone against weakening euro. Pound does not lose hope and opposes the dollar more than confident. Analysts and foreign exchange experts see prospect of the pound’s further recovery.
Euro to dollar exchange rate fell below 1.2800 to 1.2785 near the mark previously set minimum at 1.2777. Bids located on the way to 1.2770, stops below. Dollar could climb even higher next week, – the experts say.
Currency exchange rates are euro oriented today. CFTC recent report showed that the trend observed since early June, was preserved, and speculative accounts continued rebalansirovat its exposure to the euro, resulting in a net short position in futures in the single European currency reached the lowest level since December last year and as of August 3 totaled 7,297 contracts after 21,339 contracts a week earlier.
The dollar exchange rate continues to decline. Commerzbank currency strategists believe that the period of positive data on the Eurozone and disappointing data on the U.S. came to an end, resulting in a reversal in a pair euro / dollar.
PMI index in Chicago unexpectedly exceeded the projected figure for the first time since April, and reached 62.3, which, as noted BMO currency analysts, should provoke a surge of activity in the near future.
The dollar exchange rate pound presses. Pound / dollar again demonstrates the positive trend, rising to $ 1.5640 area, which may result in re-testing of previously installed a high of $ 1.5655.
The Currency exchange rates are dominated by the euro today. The exchange rate the dollar is falling against the backdrop of growing confidence in the single European currency. The euro continues to rise, punching a three-month highs at around 1,315 dollars. At the same time, analysts believe the rise of the euro exchange rate short-term and do not have a chance of a long period of time.
The pound exchange rate rises above today. U.S. dollar exchange rate remains fragile as the euro becomes the pivot. JPMorgan Chase & Co. overturned the recommendation of the open short positions in the British currency after the pound / dollar struck the April maximum.
The exchange will open with the euro reducing against the pound on Monday. Dollar exchange rate will be stable. The exchange rate euro against dollar and pound will fall – reported Royal Bank of Scotland currency analysts. Single European currency continues to consolidate in a very small volume of trades, and while it stabilized above $ 1.2880 looks constructive for couples and bulls do not lose hope for a retest of levels near $ 1.3025, currency strategist at Royal Bank of Scotland do not share their optimism.