The Euro and other commodity-linked currencies firmed during Wednesday’s Asian trading session, supported by an improvement in investors’ risk appetite which lifted Wall Street to a record close of 14,253.77 points, a gain of 125.95 points. According to analysts, the improvement in sentiment was a result of speculation that more easing is on the way from several of the major central banks including the Bank of Japan, Bank of England, and European Central Bank; the U.S. Federal Reserve Bank has already said that it is committed to maintaining its asset purchase program. Both the European Central Bank and the Bank of England will hold their respective monthly monetary policy meeting on Thursday, while the Bank of Japan’s 2-day meeting begins today.
As reported at 12:38 p.m. (JST) in Tokyo, the EUR/USD pair was trading at $1.3067, a gain of 0.1% and an extension of the recovery from Friday’s 6-week low of $1.2966. The GBP/USD pair also firmed, trading at $1.5146, improving from the 2½ year trough of $1.4985 which was also hit last Friday. The AUD/USD pair gained 0.2% to trade at $1.2083, moving away from $1.0116, Monday’s 8-month trough. Meanwhile, the USD/JPY pair was trading lower at 93.16 Yen, which represented a rise of 0.2% for the safe haven Japanese currency, however given the recent sell off in the Japanese Yen currency strategists expect that any gains will be limited.
Wall Street Rally Lifts Currencies
After working on Wall Street, Barb began her second career as a freelance writer at Daily Forex, where the CEO recognized fresh, untapped potential and was willing to give her a try. She’s never looked back. Since then, she’s worked steadily as a freelance writer and editor in the financial services and Forex-related industry.
... Read more After working on Wall Street, Barb began her second career as a freelance writer at Daily Forex, where the CEO recognized fresh, untapped potential and was willing to give her a try. She’s never looked back. Since then, she’s worked steadily as a freelance writer and editor in the financial services and Forex-related industry.