Currency markets witnessed a volatile and.....>

FOREX: Currency markets witnessed a volatile and choppy European open. Usd/Jpy

is one of the few pairs that has marginally edged upwards. The dollar gained

against the yen moving from Y112.89 to Y113.27. Euro-dollar didn't show a bias

in either direction as the pair remained between $1.1771-$1.1801 in a tight

range. Cable initially dropped to lows of $1.3135 before recovering much of the

losses. The October UK Retail Sales data came in slightly better than expected

lifting the pair to $1.3173. Sterling did gain against the euro as Eur/Gbp

headed lower after the retail sales data. The pair has traded between

Gbp0.8939-Gbp0.8968. Cable encountered late demand and lifted to fresh highs of

$1.3190. Similar to many of the other currencies the Aussie also saw a volatile

yet mainly sideways price action. The overnight release of mixed Australian

Labour report saw the pair gyrate wildly between 0.7571 to $0.7609. In Europe

the swings continued, albeit not as large, as the pair remains range bound.