Forex news from the European morning session 9 December 2014



USDJPY led an assault on the greenback earlier on this morning as traders booked a bit of post-NFP profit and weaker Nikkei but we’ve seen good two-way business since

USDJPY fell from 120.10 to 119.76 in a rush where bids came back in to lead a rally back above 120.00 but it proved short-lived and we were soon heading to the next support lines at 119.50 before once again heading back to 120.00

Both EURUSD and GBPUSD enjoyed a decent run higher to 1.2370 and 1.5695 from 1.2330 and 1.5655 but both have found further gains hard to come by, especially the pound after weaker production data. EURGBP has made steady gains from 0.7865 all morning and is posting 0.7903 as I type

AUDUSD and NZDUSD have also made some steady gains from Asian lows 0.8234 and 0.7607 but running into offers at 0.8300 and 0.7700 while USDCAD slipped back on the greenback selling from 1.1500 to 1.1453 as I type.

A decent session then, albeit light on data and rhetoric, and we should see more of the same before the day is out