Tuesday's Foreign Exchange And Derivatives

Published 02/12/2013, 12:06 PM
Updated 05/14/2017, 06:45 AM
  • France’s position is clear: The single currency is too strong. It lost some ground further to French President Hollande’s statement on Thursday. On Friday, ECB President Mario Draghi also stated that an overly strong euro could hinder inflation. The euro dropped once more in reaction to the news. On Monday, the situation was reversed; Germany specified that the euro was not overvalued and eurozone governments should focus on solving their problems rather than talking about the currency, which then gained ground as a result. There are still major discrepancies in Europe which spells trouble for the young currency.
  • In Japan, the policy of the weak yen received official support from the U.S. yesterday, and consequently, rebounded after a brief correction.
  • Yen and euro sellers, beware.
  • Monday was calm for the USD/CAD pairing, with U.S. Retail Sales figures expected on Wednesday. Fans of U.S. politics will be watching President Obama’s State of the Union address on Tuesday evening though the impact of such speeches on exchange markets is often limited.
  • Olivier Cosialls

    Today's Currency Pairs

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