Currency Analyst since 2010

Oct. 1: Asian session

US dollar weakened against most major peers after a partial shutdown of the US government began as the wrangling between Senate Democrats and House Republicans threatened to stunt growth at a time when the central bank is weighing a tapering of stimulus.

EUR/USD is trading on the upside. The pair tested $1.3550, though it’s still below yesterday’s high at $1.3556. Watch the European data at 07:15-07:55 GMT. GBP/USD rose to $1.6246, the highest level since Jan. 3. Britain will release manufacturing PMI at 08:30 GMT (forecast: 57.5; previous: 57.2).

USD/JPY tested 98.78, but then slid to 98.00 handle. Yen fell briefly after the Bank of Japan’s quarterly Tankan survey beat economists’ estimates, and Prime Minister Shinzo Abe said the sales tax would rise to 8% in April. USD/CHF is trading on the downside staying just above the recent lows at 0.9020.

AUD/USD rose from $0.9314 to $0.9400. Australian dollar strengthened as the Reserve bank of Australia kept interest rates unchanged and the nation’s retail sales came slightly higher than expected. NZD/USD is trading around $0.8300 after it tested $0.8270 earlier today. USD/CAD is trading at 1.0310 after reaching 1.0330. Canadian dollar touched a 4-day high after a report showed gross domestic product increased at the fastest pace in 2 years in July.

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