ForexLive Americas wrap March 22, 2013: Cyprus nears solution

Forex trading headlines from Friday’s New York session:

The euro jumped on a Reuters report saying a solution on Cyprus could be possible within hours. That pushed EUR/USD through 1.3000 from 1.2960 at the start of US trading. Details have been scant but a deal appears to be coming together. EUR/USD has spent most of the US afternoon around 1.2985.

If not for the news trickling out of Cyprus it would have been an extremely quiet Friday. The one exception was the ratings warning on the UK from Fitch. That sent cable down a half cent to 1.5190 but it slowly retraced all the losses in a positive sign for GBP.

Author: Adam Button

Adam Button is the managing editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

3 Comments

  1. Adam, some of the other news reports are saying that Cyprus passed a bill on bank resolution, capital controls

  2. Do we expect EUR/USD to open higher on Monday with all this Cyprus news?

  3. Forex: The EUR/USD Closes The Week With A 1.3000 Test On Cyprus

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