EUR/USD


Yeterday's Close:1.1523 High:1.1530 Low:1.1448

Resistance Levels: 1.1530/40, 1.1570/80,1.1600/10
Support Levels:1.1450/60, 1.1380/90, 1.1330/40

The euro rose slightly after the ZEW data, trading at $1.1506 per dollar up 0.21 percent on the day and just around a cent above seven-week lows set last week.
Analysts are saying that it really needs a break of 1.1560 to signify that Fridays's bounce was nothing more than short-term.

USD/JPY


Yestrday's Close:108.70 High:109.11 Low:108.43

Resistance Levels:109.20/30 ,109.60/70, 110.10/20
Support Levels:108.20/30 107.50/60, 106.70/80

The dollar on Tuesday its trimmed losses from a near three-year low notched against the yen on Monday, after suspected intervention by Tokyo weighed on the Japanese currency.
The dollar was near flat on the day at 108.70 yen ,but up from Monday's three-year low of 107.86 yen, while the euro climbed to 125.10 yen ,up 0.30 percent after having dropped more than 1 percent on Monday to a 10-month low.

USD/CHF


Yesterday's Close:1.3610 High:1.3750 Low:1.3590

Resistance Levels:1.3730/40, 1.3800/10, 1.3850/60
Support Levels:1.3580/90, 1.3520/30, 1.3470/80

U.S. interest rate signals are indicating a further dollar upturn in the near term, at least against the Swiss franc, as investors increasingly utilize the franc as a funding currency in carry trades.
Analysts say there have been growing indications that some speculators have switched the funding of their long positions in higher-yielding currencies out of the dollar and into the Swiss franc. For instance, since its Oct. 24 lows, the dollar has rallied against the Swiss currency by around 3 percent, but less so against the euro , indicating that investors prefer selling the Swiss franc more than the single European currency because the euro zone still offers higher returns.
On Tuesday, the dollar was in a consolidation mode against the Swiss franc after the previous week's gains, trading around 1.3630 francs.
Gains in the euro against the Swiss franc indicate the same pattern. The euro has climbed to its highest level in nearly three and a half years, breaching what was expected to be tough resistance at 1.5620 14:00 11Nov2003 RTRS-ECB-FOREX RESERVES FELL 1.1 BLN EUROS TO 190.9 BLN

GBP/USD


Yesterday's Close:1.6655 High:1.6710 Low:1.6635

Resistance Levels:1.6680/ 90, 1.6750/60, 1.6800/10
Support Levels:1.6620/30, 1.6570/80, 1.6530/40 .

Sterling slipped across the board on Tuesday as news of an unexpected deterioration in Britain's trade position dampened sentiment ahead of the Bank of England's quarterly inflation report on Wednesday.
Data showed Britain's goods trade deficit with the rest of the world widened to 4.8 billion pounds in September, its worst reading since last November's all-time high of 5.1 billion pounds.

Sterling made broad-based gains in October on the prospect of aggressive interest rate hikes, forging to five-year highs against the dollar and seven-month peaks against the euro.
But in the past week, the British currency has come under pressure as investors have been keen to unwind long sterling positions after the Bank of England's quarter-point rate hike last Thursday.

The pound was teetering at a two-week low beyond 69 pence per euro at close, nursing losses of half a percent on the day.
Against the dollar, it was a third of a percent weaker at $1.6650.

Dealers said the Bank of England's inflation report on Wednesday would be pivotal for sterling near-term outlook with traders eager to gauge how aggressively UK interest rates are likely to rise over the coming year.
UK jobs data for October are also released on Wednesday.