Forex trading headlines 17 February 2014
- Schaeuble says ESM direct bank recaps are a last resort
- Nowotny: ECB hasn’t decided on negative deposit rates
- Irish finance minister Noonan says today is not the day for banking union or Greece decision
- ECB is doing a very good job says Spain’s Guindos
- If Scotland go it alone what will their currency be called? ForexLive readers guess the currency
- The SNB is another central bank caught up between a rock and a hard place as Commerzbank cut EUR/CHF year end forecast
- Soros sticks $1.3bn into S&P shorts
- Significant exchange rate moves in many countries is part of adjustment needed in current global economic transition says senior Canadian finance official
- Fitch: Italy same as it ever was
- BOE’s Miles: UK interest rates will not remain at this level for many years to come
- EU’s Olli Rehn confident new Italian government will continue competitiveness reforms
A session with zero data saw currencies ranging in tight boundaries with only the mighty pound showing a pulse.
GBP/USD continued its descent from a breach of 1.68 but could only muster another 30 pips as buyers took their money off the table after last weeks impressive run continued. With some important UK data on the roster this week traders may not want too much exposure but longs down below 1.65 will be happy with the buffer should the data disappoint. 1.67 went late in the day but support across that and 1.6690 held leaving us at 1.6707.
Gold was the only other main mover and from the open at $1318 it was north through the November 2013 highs to $1330.
Eamonn will be along in a few hours to take up the baton and we’ll be back to normal service tomorrow.
