Ramsey
20-02-2003, Thu 10:36 PM
EUR/USD
Yesterday's Close:1.0747 High:1.0766 Low:1.0665
European currencies have been the primary beneficiaries of the U.S. currency's weakening trend. In late U.S. trading, the euro traded at $1.0747 against the dollar,up 0.60 percent from its previous U.S. close.
Resistance Levels:1.0750/60, 1.0780/90, 1.0850/60
Support Levels:1.0700/10 1.0655/65 1.0580
USD/JPY
Yesterday's Close:118.76 High:119.21 Low:118.58
The dollar bought 118.75 yen,its lowest level in three weeks and 0.27 percent lower on the day. Traders said fear that Japan could step into markets to sell its own currency helped contain the dollar's losses.
Resistance Levels:119.50/60, 119.90/00, 120.40/50
Support Levels:118.70/80, 118.30,117.50
USD/CHF
Yesterday's Close:1.3678 High:1.1.3786 Low:1.3655
The dollar traded at 1.3675 Swiss francs,down 0.65 percent from its previous U.S. close.
Resistance Levels:1.3780/90,1.3820/30 1.3920/30
Support Levels:1.3640/50, 1.3570/80, 1.3510/20
GBP/USD
Yesterday's Close:1.5972 High:1.5978 Low:1.5898
Sterling fell to a 3-1/2 year low versus the euro for the second day running on Wednesday as worries mount over UK economic health and political prospects in the wake of the government's support for a war with Iraq.
The UK currency has already lost more than three percent this month on a trade-weighted basis ,following the Bank of England's shock rate cut earlier in February that fanned economic concerns.
Wednesday's release of the Bank of England's minutes from its February 5-6 meeting, when it cut rates by 25 basis points, confirmed its concerns about domestic demand and revealed worries consumer and business confidence.
The pound set the new low at 67.39 pence per euro in afternoon trade after lingering just above Tuesday's 3-1/2 year lows throughout the session. But it held on to its gains of nearly a third of a percent versus the dollar, trading at $1.5970 .
It matched two-month lows on the dollar in early trade.
Markets are looking toward Thursday's release of January UK retail sales data for signs of the consumer mood. A Reuters survey put the year-on-year average forecast at 5.6 percent growth, down from the previous month's 6.4 percent.
Resistance Levels:1.6000/10 1.6030/40, 1.6100/10
Support Levels:1.5890/00, 1.5850/60, 1.5810/20
Yesterday's Close:1.0747 High:1.0766 Low:1.0665
European currencies have been the primary beneficiaries of the U.S. currency's weakening trend. In late U.S. trading, the euro traded at $1.0747 against the dollar,up 0.60 percent from its previous U.S. close.
Resistance Levels:1.0750/60, 1.0780/90, 1.0850/60
Support Levels:1.0700/10 1.0655/65 1.0580
USD/JPY
Yesterday's Close:118.76 High:119.21 Low:118.58
The dollar bought 118.75 yen,its lowest level in three weeks and 0.27 percent lower on the day. Traders said fear that Japan could step into markets to sell its own currency helped contain the dollar's losses.
Resistance Levels:119.50/60, 119.90/00, 120.40/50
Support Levels:118.70/80, 118.30,117.50
USD/CHF
Yesterday's Close:1.3678 High:1.1.3786 Low:1.3655
The dollar traded at 1.3675 Swiss francs,down 0.65 percent from its previous U.S. close.
Resistance Levels:1.3780/90,1.3820/30 1.3920/30
Support Levels:1.3640/50, 1.3570/80, 1.3510/20
GBP/USD
Yesterday's Close:1.5972 High:1.5978 Low:1.5898
Sterling fell to a 3-1/2 year low versus the euro for the second day running on Wednesday as worries mount over UK economic health and political prospects in the wake of the government's support for a war with Iraq.
The UK currency has already lost more than three percent this month on a trade-weighted basis ,following the Bank of England's shock rate cut earlier in February that fanned economic concerns.
Wednesday's release of the Bank of England's minutes from its February 5-6 meeting, when it cut rates by 25 basis points, confirmed its concerns about domestic demand and revealed worries consumer and business confidence.
The pound set the new low at 67.39 pence per euro in afternoon trade after lingering just above Tuesday's 3-1/2 year lows throughout the session. But it held on to its gains of nearly a third of a percent versus the dollar, trading at $1.5970 .
It matched two-month lows on the dollar in early trade.
Markets are looking toward Thursday's release of January UK retail sales data for signs of the consumer mood. A Reuters survey put the year-on-year average forecast at 5.6 percent growth, down from the previous month's 6.4 percent.
Resistance Levels:1.6000/10 1.6030/40, 1.6100/10
Support Levels:1.5890/00, 1.5850/60, 1.5810/20