Currency Analyst since 2010

Oct. 3: Asian session

EUR/USD keeps attacking $1.3600. Yesterday the pair reached this handle, but then closed at $1.3577. Today euro rose to 8-month high at $1.3523. US dollar declined as US government’s partial shutdown continued, adding to concern it will slow economic growth and postpone a tapering of monetary stimulus. Demand for euro rose before a report forecast to show retail sales in the currency bloc rose in August (09:00 GMT). GBP/USD is trading on the upside above $1.6200, though below yesterday’s high at $1.6250 and below Tuesday’s high at $1.6260.

USD/JPY rose to 97.78 from yesterday’s minimum at 97.14. Yen declined as Asian stocks rallied. MSCI's broadest index of Asia-Pacific shares outside Japan swung 1% higher. Share markets find comfort in expectations major central banks might now have to keep monetary policy super-loose for longer and also in an upbeat survey on China’s huge services sector. USD/CHF is trying to hold above 0.9000. AUD/USD is consolidating below $0.9400. NZD/USD is trading below resistance in the $0.8430/40 area. USD/CAD touched 1.0317 after yesterday’s spike up to 1.0356.  

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