Forex news from the European morning session 13 November 2014



Another busy session with the pound stealing the headlines but it’s been a good one too for the euro and aussie $ amongst others.

We began with the pound looking a little soggy but going nowhere in a hurry. Instead we saw the euro collect a few bids with EURUSD grinding up to 1.2476 and EURJPY to 144.33 as USDJPY had another look above 115.80 following an impressive close on the Nikkei.

EURGBP then ground its way higher through 0.7900 and gave cable a nudge lower from 1.5775 that has finally chewed its way through good bids into 1.5750 to post 1.5740 as I type with EURGBP rising again from 0.7905 having triggered a few stops through 0.7910 to 0.7917 earlier.

But where the pound was soggy the aussie was impressive in its rally to 0.8764 from 0.8670 after its knock down on the RBA intervention comments in Asia. AUDJPY has also enjoyed a run higher through to 101.22 as USDJPY picks up buyers in the dips below 115.50.

USDCHF drifted into bids at 0.9630 as EURUSD remained underpinned and EURCHF continues to edge ever lower, posting 1.2017 so far.

USDCAD has held onto support at 1.1300 after a drift from 1.1330 while NZDUSD has also enjoyed a good morning at the office rallying from 0.7860 to 0.7930 before slipping back.

US jobs data coming up shortly but this market is not so reliant on data right now.