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Forex News Recap: Sovereign Debt Fears, BOE Inflation Report, US Yields and QE
Written by article default Thursday, 11 November 2010 09:44
Today’s session had several themes converging and diverging. First, the EUR/USD hit a 1-month low on concerns over Ireland and the possibility that it could default on its debt obligations. But, concerns about a weak 30-year US Treasury auction and details about QE2 pressured the USD, allowing the Euro to pare its losses. The Pound was stronger on a hawkish BOE Inflation Report, while the Yen slid across the board – caught up in US Treasury yields rising and good US fundamental data.