Market news
10.01.2011, 13:23

European session: euro remains under the pressure

The euro was little changed versus the dollar as Portuguese bonds advanced amid speculation the European Central Bank bought government securities before debt auctions this week.
“The dollar seems to be benefiting at long last from increasing optimism about the U.S. economy,” Sue Trinh, a senior currency strategist at Royal Bank of Canada, said in a telephone interview from London.
The British pound slipped versus the dollar and euro as data showed U.K. house prices fell the most in three months in December.
Ten-year gilts declined before the Bank of England’s decision on interest rates on Jan. 13. Lloyds Banking Group Plc’s Halifax mortgage-lending division said today that average house prices dropped 1.3 percent to 163,435 pounds ($254,000) from the previous month.

EUR/USD: pushed posted new session high at $1.2940, but offers placed in the area between $1.2940/45 halted the advance and forced the pare back under  $1.2900. Offers: $1.2940/45, $1.2965/70, $1.2980/85, $1.3000, $1.3020/25. Bids: $1.2850, $1.2830/25, $1.2800.

GBP/USD: tested demand placed at $1.5475/70, before bounced back to $1.5435/30.

USD/JPY: traded within Y82.90-Y83.30 range.


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