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7 Jan 2015
Session recap: USD and Yen the winners; all eyes on FOMC and NFP
FXStreet (San Francisco) - Tuesday was a copy of Monday as investors bet on safe havens like the USD and Japanese Yen. The Euro was the victim of the day as market players expect the worst resolution in the Greek case.
The EUR/USD traded lower for the fourth day as the Euro consolidated Monday losses below 1.1900; the pair is now well below this level and testing prices not seen since 2006.
"The euro continues to show that it’s not the worst harbor in a storm. It was a similar story in the risk routs in October and December," ForexLive's Adam Button says. It made steady progress up to 1.1950 after the soft ISM and was steady until a round of USD buying on better sentiment whacked it back down to 1.1890 late."
The GBP/USD lost the 1.5200 figure and extended drop to the 1.5100 area. The USD/JPY closed at 118.50 after posting Tuesday's low at 118.05.
The EUR/USD traded lower for the fourth day as the Euro consolidated Monday losses below 1.1900; the pair is now well below this level and testing prices not seen since 2006.
"The euro continues to show that it’s not the worst harbor in a storm. It was a similar story in the risk routs in October and December," ForexLive's Adam Button says. It made steady progress up to 1.1950 after the soft ISM and was steady until a round of USD buying on better sentiment whacked it back down to 1.1890 late."
The GBP/USD lost the 1.5200 figure and extended drop to the 1.5100 area. The USD/JPY closed at 118.50 after posting Tuesday's low at 118.05.