ForexLive North American wrap: Politicians sounding like they could agree

Author: Adam Button | Category: News

Total turnaround in sentiment on Wednesday, primarily due to the optimistic tone on the fiscal cliff from Obama and Boehner.

Early worries were punctuated by the weak new home sales data, sending the euro to 1.2880. We close out the day at 1.2940 with offers at 1.2950 continuing to hold the line.

USD/JPY ran into large buying interest below 81.70 and has climbed back to finish at a session high of 81.96.

USD/CAD nibbled above the weekly high of 0.9960 but quickly reversed to 0.9920. Similar story in AUD.

The gap down in gold happened in seconds. There was talk of options related trades and/or a fat finger as the culprit. Still no clarity.

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