Foreign Exchange Overnight/Morning Ranges:
Profit taking on short USD positions has persisted since Fed Reserve Bernankes comments Friday. He was reluctant in confirming that further Q/E would `definitely’ be imposed, although investors feel that the Fed would be successful in generating more inflation. The USD stronger and holding below Fridays support of €/$ 1.3900. The Pound opening at $ 1.5900, and higher against the weaker Euro at € 1.1450. UK Chancellor Osborne has signalled he will give his blessing to a new wave of money creation should BoE Governor King want it.
EUR/USD currently 1.3894. Support 1.3600, resistance 1.3900.
GBP/USD currently 1.5880. Support 1.5700, resistance 1.6000.
GBP/EUR currently 1.1426. Support 1.1350, resistance 1.1600.
Oil $ 80.7 Gold $ 1360
Dow -0.3% FTSE -0.4% Nikkei Flat
The prices shown are "interbank" exchange rates. Your rate will be determined by the amount of currency that you are buying. The above interbank rates are accurate at time of writing
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