Interbank Rates Overnight - Morning Ranges:
Weaker USD trend persists as stocks and commodities all gain. The Euro now has broken above the recent highs of €/$ 1.4000+ as speculation mounts on further Q/E in the U.S. Minutes from the FOMC the previous evening set the trend in motion having seen some profit taking on short USD positions beforehand.
With the weaker USD, Sterling has broken through resistance of $ 1.6000, should we hold above this level over next few sessions, $ 1.6300 area would be the next technical target. However at present, there are still mixed views as far as additional Q/E here in the U.K. The Pound a little stronger against the Euro at € 1.1370. Only a close above € 1.1400 would suggest a short term correction.
EUR/USD currently 1.4075. Support 1.3900, resistance 1.4200.
GBP/USD currently 1.6039. Support 1.6000, resistance 1.6300.
GBP/EUR currently 1.1388. Support 1.1350, resistance 1.1600.
Oil $ 83.9 Gold $ 1381
Dow +0.7% FTSE +1.5% Nikkei +1.9%
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