|
Forex Report, September 27 2007 |
|
The dollar has been a bit mixed these last couple of days with the EUR/USD continuing to climb while the dollar has found a bit of strength against the JPY and the CHF.
We saw the EUR/USD climb to almost 1.42, but fell short at "just" 1.4190. After some mixed news this morning from NY, the Euro lost a bit of those gains and fell to around 1.4135. This pair seems to have lost some of its momentum from last week, but it's certainly not falling yet. Look for it to continue to test, and possibly jump past, the 1.4200 mark before the week is over.
The strength we're seeing against the yen is across the board, with all the majors making gains. The USD/JPY is falling within a tighter and tighter range these last couple of weeks and we can expect some sort of break soon. If the yen continues to fall over the next couple of weeks, this may be a sign that investors have regained a bit of confidence and are downplaying the perceived risk of this last month or so. It should be an interesting time...as forex usually is!
Happy Trading!!!
|
|
|
Forex Report