Market News

The EUR hovered close to a two-month record vs the USD on Tuesday, retaining support after last week's European bank stress tests revealed no issues while demand for riskier assets weighed on the dollar increased significantly.

The EUR hit a seven-week record vs the JPY on Monday as an increase in shares prompted dealers to unwind long yen positions

In Asian trading today, the common currency Euro and the U.S. Dollar both fell versus the safe-haven Japanese Yen on investor profit taking.

Following the testimonial remarks of Ben Bernanke, to the U.S. Congress’s Banking Committee, the U.S. Dollar fell in Asian trading on renewed investor concern over the pace of the American economic recovery.

The common currency Euro slipped from a 10-week peak yesterday, but still managed to edge up versus the U.S. Dollar in Asian trading today.

With currency investors trimming their long term holdings in the U.S. Dollar, the greenback slipped in Asian trading, closing in on the 2-month trough struck last week against the common currency Euro.

Investor profit taking brought the Euro lower against both the Japanese Yen and U.S. Dollar in Asian trading today.

The U.S. Dollar remained under pressure in Asian trading today following the release of tepid economic data from the United States which is seen by many as evidence that the pace of the economic recovery is slowing.

A decline in regional equity markets coupled with softer than forecast economic data from China raised investor uncertainty over recovering health of the global economies and helped to broadly push up the safe-haven Yen in Asia today.

The common currency Euro held close to a 2-month peak versus the U.S. Dollar as investor risk appetite was whetted following earlier better than expected quarterly earnings results from Intel.

A weakened equity market in Tokyo helped to push the common currency Euro and the U.S. Dollar down versus the safe-haven Japanese Yen.

As a result of the election outcome, the Japanese Yen slipped in Asian trading today, down against both the U.S. Dollar and the common currency Euro.

Japanese importers, awaiting the outcome of the Upper House elections which will be held on Sunday, helped push the Japanese Yen lower against the U.S. Dollar in Asian trading today.

Much stronger than predicted jobs data from Australia helped to push the Aussie and other high-yielders up against the safe-haven greenback and Japanese Yen.

In Asian trading today, the common currency Euro fell from an earlier 7-week peak against the greenback.