Ramsey
18-12-2002, Wed 11:29 AM
EUR/USD
N.Y.Close:1.0283 Yesterdays high:1.0333 low:1.0210
The euro soared more than 1 percent against the dollar on Tuesday to $1.0333, a new three-year high, but subsequently traded near $1.028,at close.
Resistance Levels:1.0325/35, 1.0350/60, 1.04
Support Levels:1.0250, 1.0210, 0,1.0190
USD/JPY
N.Y.Close:121.30 Yesterdays High:121.51 Low: 120.22
As the dollar plumbed new lows against the yen, Japan on Tuesday turned up the rhetoric against an appreciating yen it fears will hurt its export-dependent economy.
The dollar traded at 121.23 yen,a loss of 0.08 percent, having dropped as low as 120.22 yen. Finance Minister Masajuro Shiokawa said he must consider warning action against the yen's latest rise, which he described as "very bad" and "strange." With all the focus on the dollar, the market barely responded to the Bank of Japan's decision to leave its monetary policy unchanged and instead step up its support for corporate financing by expanding the use of asset-backed commercial paper and loans on deeds as eligible collateral for its money market operations.
Resistance Levels: 121.80/90, 122.30/40,122.80
Support Levels:120.20/30, 119.60/70, 11920/30
USD/CHF
N.Y.close:1.4266 Yesterdays high:1.4446 Low:1.4247
The Swiss franc also gained sharply, hitting its highest level against the dollar in four years at 1.4247 francs per dollar,before closing around 1.4265.
Against the euro the swiss franc was higher closing around 1.4670 a rise of nearly 1.0 percent.Dealers put this down to "safe haven"buying.
Resistance Levels:1.4320, 1.4380/90, 1.4450
Support Levels:1.4250, 1.4180, 1.4100
GBP/USD
N.Y. Close:1.5995 Yesterdays High:1.6018 Low:1.5896
The British pound jumped to its highest against the dollar in over two and a half years on Tuesday as growing concern the United States was preparing for war with Iraq prompted investors to flee the dollar.
News Britain's inflation rate climbed to a 4-1/2 year high last month caused few ripples in the currency market as attention focused firmly on developments in the Gulf.
Worries of conflict in Iraq intensified after U.S. Secretary of State Colin Powell said on Monday the United States had problems with the documents Iraq gave to the United Nations on its weapons programmes. Pressure on the dollar intensified on Tuesday as investors adjusted positions in a thin end-of-year market. By late N.Y. trade, sterling stood just below $1.60,having earlier risen to $1.6018, its highest level since April 2000. But the pound slipped to 64.46 pence per euro as Europe's single currency notched up even speedier gains against the dollar,but recovered late in N.Y to close around 63.30 little changed on the day.
British jobs data and minutes of the Bank of England's latest policy-setting meeting are due on Wednesday and will be followed by retail sales data on Thursday.
Resistance Levels:1.6010/20, 1.6050/60 ,1.6120
Support Levels:1.5950/60, 1.5910/20, 1.5880EUR/USD
N.Y.Close:1.0283 Yesterdays high:1.0333 low:1.0210
The euro soared more than 1 percent against the dollar on Tuesday to $1.0333, a new three-year high, but subsequently traded near $1.028,at close.
Resistance Levels:1.0325/35, 1.0350/60, 1.04
Support Levels:1.0250, 1.0210, 0,1.0190
USD/JPY
N.Y.Close:121.30 Yesterdays High:121.51 Low: 120.22
As the dollar plumbed new lows against the yen, Japan on Tuesday turned up the rhetoric against an appreciating yen it fears will hurt its export-dependent economy.
The dollar traded at 121.23 yen,a loss of 0.08 percent, having dropped as low as 120.22 yen. Finance Minister Masajuro Shiokawa said he must consider warning action against the yen's latest rise, which he described as "very bad" and "strange." With all the focus on the dollar, the market barely responded to the Bank of Japan's decision to leave its monetary policy unchanged and instead step up its support for corporate financing by expanding the use of asset-backed commercial paper and loans on deeds as eligible collateral for its money market operations.
Resistance Levels: 121.80/90, 122.30/40,122.80
Support Levels:120.20/30, 119.60/70, 11920/30
USD/CHF
N.Y.close:1.4266 Yesterdays high:1.4446 Low:1.4247
The Swiss franc also gained sharply, hitting its highest level against the dollar in four years at 1.4247 francs per dollar,before closing around 1.4265.
Against the euro the swiss franc was higher closing around 1.4670 a rise of nearly 1.0 percent.Dealers put this down to "safe haven"buying.
Resistance Levels:1.4320, 1.4380/90, 1.4450
Support Levels:1.4250, 1.4180, 1.4100
GBP/USD
N.Y. Close:1.5995 Yesterdays High:1.6018 Low:1.5896
The British pound jumped to its highest against the dollar in over two and a half years on Tuesday as growing concern the United States was preparing for war with Iraq prompted investors to flee the dollar.
News Britain's inflation rate climbed to a 4-1/2 year high last month caused few ripples in the currency market as attention focused firmly on developments in the Gulf.
Worries of conflict in Iraq intensified after U.S. Secretary of State Colin Powell said on Monday the United States had problems with the documents Iraq gave to the United Nations on its weapons programmes. Pressure on the dollar intensified on Tuesday as investors adjusted positions in a thin end-of-year market. By late N.Y. trade, sterling stood just below $1.60,having earlier risen to $1.6018, its highest level since April 2000. But the pound slipped to 64.46 pence per euro as Europe's single currency notched up even speedier gains against the dollar,but recovered late in N.Y to close around 63.30 little changed on the day.
British jobs data and minutes of the Bank of England's latest policy-setting meeting are due on Wednesday and will be followed by retail sales data on Thursday.
Resistance Levels:1.6010/20, 1.6050/60 ,1.6120
Support Levels:1.5950/60, 1.5910/20, 1.5880EUR/USD