Dec 02
This morning the EUR/USD pair has dropped down to the 1.5078 level. This morning the GBP/USD pair has dropped down to the 1.6569 mark. Technical supports 1.6585/90, 1.6550 and 1.6520, resistance 1.6635/45. The USD/JPY pair has dropped to the 87.23 level. Japan’s November monetary base +3.8% YoY. BoJ is to continue to provide increased market funds. Many dealers are now afraid of further BoJ/MoF action or intervention and therefore have been leaving the market alone or have preferred to short JPY on the day.
Due for release today is the EUR Euro-Zone Producer Price Index, USD ADP Employment Change and AUD AiG Performance of Service Index.
By Ultimate Forex Profits
