Free Trial

The dollar continued to fall against its......>

FOREX
FOREX: The dollar continued to fall against its major peers in the Asia-Pacific
region before recovering on profit-taking, leaving the greenback little changed
on the session. Euro-dollar marched higher to $1.1965 before fading to $1.1920
and was last at $1.1926, precisely where it opened. Aussie came under initial
selling pressure falling from around $0.7940 to $0.7914, intraday specs were
said to be establishing short positions on the news over the weekend that N.
Korea had fired a number of short range missiles. The Aussie shrugged off that
news and traded to $0.7950 as short-covering set in. Cable jumped higher from
$1.2900 to $1.2946, stops were said to have been triggered above $1.2920. For
the balance of the session the pound edged lower to $1.2883 to fill in the gap
from the New York close on Friday. Meanwhile, dollar-yen trekked lower from
Y109.40 to Y109.09, Japanese real money accounts were the reported sellers.
Dollar-yen was last at Y109.18.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.