Members login
Currencies Update: Gains for the yen during the Asian session
Written by article default Tuesday, 09 November 2010 12:21
The yen rose against the euro to the highest in a week after the Chinese government promised to lower the cash volume invested in Chine, which determined investors to start looking for safer assets including the yen.The euro fell during today’s Asian session against the dollar reaching the level 1.3858, recording the highest at 1.3895 and the lowest at 1.3846. On the other hand, the pair faces a support at 1.3820 which limited the downside movement. The daily momentum indicators show the pair in an oversold area, while the four hours indicators give selling signs.
The pound gained today against the dollar recording a high of 1.6151 and a low of 1.6056. Now the pair trades around 1.6130 and now it faces a support at 1.6050. The daily momentum indicators show the pair in an oversold area.
The yen rose against the dollar during the Asian session, recording a low at 80.71 and a high at 81.22. Now the pair trades around 80.93, facing a support at 80.60. The daily momentum indicators give selling signs which could favor a downside movement on the short term.