European session: The U.S. currency fluctuated versus the 17-nation currency

The dollar touched an eight-week high against the euro as U.S. voters head to the polls today to decide whether President Barack Obama or challenger Mitt Romney will guide the world’s biggest economy for the next four years. The U.S. currency fluctuated versus the 17-nation currency on speculation whoever wins the election will press ahead with resolving the so-called fiscal cliff of federal spending cuts and tax increases.

Australia’s dollar appreciated against all its 16 major counterparts after the central bank unexpectedly refrained from cutting interest rates today.

The euro declined against most of its major counterparts as Greek Prime Minister Antonis Samaras struggles to get the members of three-party coalition to support a package of further austerity measures, which will be voted on as soon as tomorrow.

Spain said yesterday it is working on a review of income and spending in its welfare system as it heads toward a deficit. The country is relying on European aid for its banks and potentially seeking more to shore up its public finances.

German factory orders fell the most in a year in September, the Economy Ministry in Berlin said today. Orders, adjusted for seasonal swings and inflation, slumped 3.3 percent from August, when they dropped a revised 0.8 percent.

The pound fell against the dollar after the British industrial production was much weaker than projected at -1.7% m / m vs. consensus estimates and expectations of -0.6% National Statistical Agency of -0.8% in the GDP report for the 3rd quarter.

EUR / USD: during the European session the pair fell to $ 1.2769, and then rose to $ 1.2813

GBP / USD: during the European session the pair fell to $ 1.5964

USD / JPY: during the European session the pair rose to the level Y80.28

From Ivey PMI index for October will be released at 15:00 GMT in Canada. At 15:00 GMT, Britain will publish data on the change in GDP from NIESR for October. At 20:00 GMT report will be published on the financial stability of the Reserve Bank of New Zealand. At 21:30 GMT the United States will change in the volume of crude oil, according to API.