Investing.com - The U.S. dollar was lower against all but one of its major rivals to start the week in Asian trading as traders bid up a slew of riskier currencies against the greenback.
In Asian trading Monday, EUR/USD soared 0.42% to 1.3399. Monday’s gain for EUR/USD comes on the heels of a 2.67% pop last week.
EUR/USD was boosted by the European Central Bank’s decision last Thursday to keep its benchmark interest rate unchanged at 0.75%. The dollar fell to nine-month low against the euro ahead of a monetary policy speech by Federal Reserve Chairman Ben Bernanke later today.
GBP/USD added 0.1% to 1.6149 after advancing 0.37% last week. Sterling is likely to find support at 1.5991, Wednesday’s low and resistance at 1.6178, Friday’s high.
The yen was the one major that the greenback was spotted higher against as USD/JPY advanced 0.39% to 89.54. Ahead of Bank of Japan Governor Masaaki Shirakawa’s speech later today, the yen sank to its lowest levels since 2010.
Traders are still calling for a correction to the upside for the yen, but most do not foresee that happening until after the Bank of Japan’s meeting later this month. Japanese financial markets are closed today due to a national holiday.
Elsewhere, USD/CHF slipped 0.11% to 0.9126. The pair is likely to find support at 0.9082, the low of December 20 and a seven-month low and resistance at 0.9267, Thursday’s high. On the back of sturdy oil prices, USD/CAD fell 0.11% to 0.9840.
Despite another concerning economic data point in Australia, AUD/USD rose 0.09% to 1.0547. The number of new home loans granted in Australia fell unexpectedly last month, official data showed on Monday.
In a report, Australian Bureau of Statistics said that Australian home loans fell to a seasonally adjusted -0.5%, from 0.1% in the preceding month. Analysts had expected Australian home loans to rise 0.3% last month.
NZD/USD surged 0.27% to 0.8390 while the U.S. Dollar Index fell 0.21% to 79.44.
In Asian trading Monday, EUR/USD soared 0.42% to 1.3399. Monday’s gain for EUR/USD comes on the heels of a 2.67% pop last week.
EUR/USD was boosted by the European Central Bank’s decision last Thursday to keep its benchmark interest rate unchanged at 0.75%. The dollar fell to nine-month low against the euro ahead of a monetary policy speech by Federal Reserve Chairman Ben Bernanke later today.
GBP/USD added 0.1% to 1.6149 after advancing 0.37% last week. Sterling is likely to find support at 1.5991, Wednesday’s low and resistance at 1.6178, Friday’s high.
The yen was the one major that the greenback was spotted higher against as USD/JPY advanced 0.39% to 89.54. Ahead of Bank of Japan Governor Masaaki Shirakawa’s speech later today, the yen sank to its lowest levels since 2010.
Traders are still calling for a correction to the upside for the yen, but most do not foresee that happening until after the Bank of Japan’s meeting later this month. Japanese financial markets are closed today due to a national holiday.
Elsewhere, USD/CHF slipped 0.11% to 0.9126. The pair is likely to find support at 0.9082, the low of December 20 and a seven-month low and resistance at 0.9267, Thursday’s high. On the back of sturdy oil prices, USD/CAD fell 0.11% to 0.9840.
Despite another concerning economic data point in Australia, AUD/USD rose 0.09% to 1.0547. The number of new home loans granted in Australia fell unexpectedly last month, official data showed on Monday.
In a report, Australian Bureau of Statistics said that Australian home loans fell to a seasonally adjusted -0.5%, from 0.1% in the preceding month. Analysts had expected Australian home loans to rise 0.3% last month.
NZD/USD surged 0.27% to 0.8390 while the U.S. Dollar Index fell 0.21% to 79.44.