Greece and Spain’s European bond yields eases the Euro

Published on in Foreign Exchange News by

Foreign Exchange Rate EUR/USD 1.3315-1.3363

Foreign Exchange Rate GBP/USD 1.5912-1.5963

Foreign Exchange Rate GBP/EUR 1.1912-1.1976

After Fed Chairman Bernanke’s comments on the Federal Reserve’s low interest rate commitments on Monday, which has since led to further USD weakness, he reminded markets last night `that the economy has a long way to go and jobs and housing remain a challenge’. Having traded above the €/$ 1.3000 level, potentially the USD could now technically weaken further targeting higher levels for the Euro of 1.3550+.

The likes of Greece and Spain’s European bond yields have eased in the last 24 hours giving emotional support for the Euro.

Sterling also held onto its gains against the USD, the level of 1.6000 remains the level to break, although there is reported corporate selling interest there. Sterling versus the Euro is a little lower ahead of final Q4 UK GDP data.

Foreign Exchange Rate EUR/USD currently 1.3358. Support 1.3300, resistance 1.3000.

Foreign Exchange Rate GBP/USD currently 1.5933. Support 1.5700, resistance 1.6000.

Foreign Exchange Rate GBP/EUR currently 1.1930. Support 1.1850, resistance 1.2100

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