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Forex Report, September 25 2007 |
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After taking a bit of a breather on Monday, the Euro has regained its strength today against the dollar rising to a new record high of 1.4155. Existing home sales came in as expected at 5.50M but this level is at a five-year low. Consumer confidence came in lower than expected, hitting a two-year low of 99.8, down from the expected 104.5.
The dollar has also dropped against other currency pairs. The GBP/USD is up to around 2.02 while the USD/CHF plummeted to 1.1640.
The carry trade pairs fell during London hours with the GBP/JPY hitting a low of 229.80 but rebounded during the NY session, heading back up to about 231.40 before bouncing around the 230.50 to 231.00 level for the rest of the morning.
Happy Trading!!!
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Forex Report