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Currency Analyst since 2010

Oct. 11: Asian session

Euro’s lows were contained yesterday by the $1.3485 area. Today EUR/USD rose to almost to yesterday’s high $1.3545. The players will focus on the developments from the US. Most US data has been postponed, except University of Michigan Consumer Sentiment due at 13:55 GMT. In Europe German CPI came unchanged, but WPI increased more than expected. GBP/USD remained yesterday above support at $1.5920 on the neutral/hawkish messages out of the Bank of England and rose to $1.5990 today. The leading indicator will be released in the UK at 09:00 GMT.

US dollar strengthened versus yen as Asian shares advanced amid continued negotiations among US lawmakers to avert a default which diminish demand for JPY as a refuge. USD/JPY is rising for the fourth day in a row and reached 98.55. USD/CHF is consolidating just above 0.9100.

AUD/USD edged up to Tuesday’s high at0.9484. Aussie rose as the yield premium on Australian 2-year debt over the US climbed to its highest level since April. NZD/USD keeps moving sideways around $0.8300. Investors are waiting for Chinese trade report tomorrow which may show exports and imports grew last month. USD/CAD reached 1.0420 yesterday, but closed at 1.0396 where it’s trading at the moment of writing. Canada will release employment data at 12:30 GMT.

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