Tuesday, January 12, 2010

Forex: Dollar relatively flat, calmer after upmove

Xstreet.com (London) - Dollar traded largely flat across its major trading partners in the Asian session today, after strengthening in earlier sessions. Greenback was boosted by a swing in risk appetite due to Chinese policy adjustments, which caused a return to safe haven assets.

Dollar has moved seemingly against the tide of recent announcements, such as Bullards earlier words of caution to the market, however the main driver for the recent upmove is widely viewed as China. Players seem to be returning to risk aversion given the uncertainty of the financial reports to come in the next weeks.

The broad picture for the Greenback against its major partners as we head to the Asian close is as follows: EUR/USD 1.4486/89 (unch.), Swissy 1.0182/83 (unch.), Cable 1.6186/89 (+0.16%), USD/JPY 91.08/10 (+0.13%).

EUR/USD (Jan 13 at 05:04 GMT)

1.4489/92 (0.03%)

H 1.4495 L 1.4454

[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Jan 13 at 04:18 (15-minute timeframe)

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