Forex: Tuesday’s review

Yesterday the euro rose to a six-week high against the dollar and the yen ahead of the meeting of regional leaders this week, which will meet to discuss their progress in the fight against the financial crisis.

The single currency continued its two-day rise after Germany reported a possible concessions to Greece. Also on the rise of the currency influenced successfully conducted auction of treasury bills in Spain. It is learned that Spain has placed T-bills in the amount of 4.515 billion euros against the planned 3.5-4.5 billion.

The dollar to fall in anticipation of the release of data on home sales, which will be presented tomorrow. It is expected that sales rose last month.

The Australian dollar rose against the dollar after the minutes of the meeting of the Reserve Bank of Australia showed that the internal market is showing signs of recovery, despite the weakness of the global economy.

The pound fell against the euro as the UK unexpectedly announced that net borrowing state. Sector declined, while factory orders balance of the Confederation of British Industry has fallen to eight-month low in August, adding to signs that the UK economy is slowing down.