Feb. 16: FOREX NEWS
FXBAZOOKA.com - EUR/USD edged up as traders hope that by the end of the day the euro zone finance ministers will find solution of the Greek financial problems. In the US today is the bank holiday (the Presidents’ Day).
USD/JPY is trading in the 118.55 area after touching levels above 120.00. According to the data released on Sunday, Japanese GDP increased by 0.6% in the final 3 months of 2014 after sliding by 0.5% in the previous quarter. Such improvement made investors reduce bets on additional monetary stimulus from the Bank of Japan.
GBP/USD edged up to 1.5440. Pound is supported by the recent hawkish-sounding comments of the Bank of England’s policymakers. Both Governor Mark Carney and his deputy, Ben Broadbent, have said the next move in interest rates is likely to be up. Martin Weale, a policymaker at the central bank, added that the central bank will need to start raising interest rates sooner than investors expect as inflation recovers from current low levels.
Among commodity currencies, the Canadian dollar strengthened a bit as USD/CAD declined on signs of a bottom in oil prices. On Friday Brent crude hit a 2015 high above $60 a barrel.
The main events for today: