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Currency Analyst since 2010

China cut RRR by 1%

EUR/USD slid to 1.0770 as investors are worried about the situation in Greece which is still trying to reach an agreement with its creditors about the economic reforms and unlock the final tranche of bailout aid.

AUD/USD opened with a gap up at 0.7825, but then edged a bit down. Aussie was helped by the fact that Chinese central bank cut the reserve requirement ratio – the amount of cash that banks must hold as reserves – by 1% in order to encourage lending and economic growth. China is Australian main trade partner.

USD/JPY has once again returned down to 118.50. Traders are worried about the state of the US economy after the recent stream of dismal data and concerns about the earnings of the American companies.

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