Forex: USD/JPY steady around 94.00

After rallying to as high as 94.50 right at the start of the week, investors took profits, pulling the USD/JPY back to 93.67 session low. Then, the pair moved back to the 94.00 mark, where it has been quoting steady.

The reason for the Yen selloff were reports (not confirmed yet) that PM Abe will nominate dove ADB President Kuroda to lead the BoJ. Tomorrow, investors will be watching closely to Fed Bernanke's semi-annual testimony, which could have an impact on the USD/JPY.

“The uptrend here has been renewed and my outlook is positive above 93.50 support area, for a rise through 94.30, towards 96.00”, wrote Deltastock.com analyst Stoyan Mihaylov.

Feb 25, 2013

Forex: GBP/USD tests 1.5100 for support

Following the early plunge to 1.5074, the GBP/USD spent the trading day moving above 1.5100 but mostly limited below 1.5150. With the NY session ahead, the pair fell back to test the 1.5100 mark, where it held.

Fundamental Afternoon Wrap: EUR up on Bersani Trade

A quick look across this afternoons institutional research shows that while the markets seems to have gotten over the UK´s downgrade but the impact as a whole is still being considered. Meanwhile news of victory for Bersani in the Italian election has taken poll position and supported the ´Bersani Trade´, the upsurge through out the days trading on the hope that Berlusconi is defeated.