Forex headlines 26 August 2013
- Moody’s warn on German banks
- UBS drops 3 month AUD/USD forecast
- Syria’s Assad warns the US over attacks
- ECB’s Liikanen sees a strong US recovery
- BOE’s Charlie Bean is clear about clear signal on UK interest rates
- Bundesbank’s Jens Weidmann says EU crisis far from over
- Japan’s business federation says sales tax should be implemented as planned
- Russia chops the head off GDP expectations
- UN chemical weapons inspectors sniped deliberately
Currencies have been fairly lacklustre in the European session as the UK take’s a bank holiday break.
USD/JPY took an early dive following the Nikkei turning red and slipped to 98.48 before recovering to 98.62. We’ve been down and up between 98.43 and 98.60 for most of the session.
GBP/USD held a 28 pip range from overnight but still looks weak from the fall from 1.5700
EUR/USD also looks soft coming off the recent high at 1.3400 and slid early doors to 1.3365 where bids held up. A bounce has been limited to 22 pips so far.
Stock markets have been fairly subdued with only Italy’s FTSE Mib showing a big move and currently down 2.37% on further political problems over Berlusconi and property tax issues. over the weekend.
