Interbank Foreign Exchange Rates Overnight/Morning Ranges:
Interbank Exchange Rates EUR/USD 1.2864-1.2929
Interbank Exchange Rates GBP/USD 1.5509-1.5567
Interbank Exchange Rates GBP/EUR 1.2029-1.2066
The USD again stronger versus the Euro. The weaker U.S. job data did little to help the Euro as we open around €/$ 1.2900 level. Portugal is in the headlines again today, as the cost of borrowing for them mounts. Sovereign debt concerns remain in the Euro Zone. If we can hold below the €/$ 1.3000 level for the next few sessions, €/$ 1.27+ would be the next technical target.
The Pound holding firm against the weaker Euro, hitting targets mentioned last week. For further gains, technically we need to close above £/€ 1.2100. There are rumored to be some corporate interest to Buy Euros (sell Pounds at these levels). Bank of England are expected to keep rates on hold this week, as concerns for economic recovery outweigh worries over mounting inflation, £/$ 1.5400-1.5700 looks to be the range for the time being, a break either side would see further momentum.
EUR/USD currently 1.2898. Support 1.2700, resistance 1.3000.
GBP/USD currently 1.5492. Support 1.5400, resistance 1.5700.
GBP/EUR currently 1.2016. Support 1.1850, resistance 1.2100.
Oil $ 88.8 Gold $ 1374 Dow -0.2% FTSE -0.2% Nikkei +0.1%
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