The EURUSD printed new 4 years low in early Asian session yesterday reaching to 1.2233 as markets continue to remain pessimistic about the ability of EU/IMF accord to save Europe. Net speculative short EURO positions also remain at lows (-18b EUR’s) as announced by the CFTC Friday which exerts extra pressure on an already bearish [...]

CURRENCY TRADING SUMMARY – 18th May (00:30GMT) U.S. Dollar Trading (USD) was volatile ending the day slightly higher than Friday’s close but well off intraday highs. In Asia, fresh year lows on the EUR/USD due to Eurozone break up fears saw stock markets and risk taken off the table. A solid bounce ensued but volatility [...]

EURGBP – With a break of the 0.8703 level its April 09’10 low occurring on Wednesday and a test of the 0.8659 level seen in  early trading today, risk of further weakness is likely. In such a case, a break of the 0.8656 level, its Feb 12’10 will clear the way for a run at [...]

FX Highlights The USD is trading higher supported by a spike in risk aversion as the SEC widens its probe of Wall Street and global equity markets decline, EUR trades lower pressured by ongoing concern about Greek fiscal crisis as Greek/ German ten-year bond spreads widened to a record 468bps, GBP traded lower pressured by [...]

FX Highlights The USD is trading higher supported worries over the Greek fiscal crisis as Greece seeks talks on emergency aid and ECB President Trichet says Greek bank troubles could worsen, USD is also supported by a modest uptick in risk aversion as China takes measures to curb growth and signals that Yuan revaluation of [...]