Foreign Exchange Overnight - Morning Ranges: Interbank Rates
This week the USD downtrend has continued with bouts of profit taking. Overnight China has announced a five year plan to boost domestic demand, profit taking saw the USD strengthen to the €/$ 1.4000 level, only to open again at €/$ 1.4075.
The Pound trading around the $ 1.6000 pivotal level within this weaker USD trend and relatively unchanged at € 1.1380 at todays open.
EUR/USD currently 1.4096. Support 1.3900, resistance 1.4200.
GBP/USD currently 1.6050. Support 1.6000, resistance 1.6300.
GBP/EUR currently 1.1376. Support 1.1350, resistance 1.1600.
Oil $ 83 Gold $ 1381
Dow Flat FTSE -0.4% Nikkei -0.9%
Foreign Exchange Top News
China set the yuan at its strongest level since policymakers pledged in June to loosen their grip on the currency, China said on that the yuan exchange rate must not be used as a "escape goat" for the United States' economic woes, ahead of a Treasury Department report that could label the country a currency manipulator.
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