Category Archives: Forex News

The British pound strengthened against the other major currencies in the Asian session on Wednesday.

The pound rose to an 8-day high of 185.44 against the yen, from yesterday’s closing value of 184.42.

Against the U.S. dollar, the euro and the Swiss franc, the pound edged up to 1.5404, 0.7258 and 1.5091 from yesterday’s closing quotes of 1.5392, 0.7273 and 1.5068, respectively.

If the pound extends its uptrend, it is likely to find resistance around 189.00 against the yen, 1.55 against the greenback, 0.71 against the euro and 1.52 against the franc.

The Australian dollar strengthened against the other major currencies in the Asian session on Tuesday.

The Australian dollar rose to 4-day highs of 0.6971 against the U.S. dollar, 83.18 against the yen and 1.6019 against the euro, from yesterday’s closing quotes of 0.6924, 82.59 and 1.6129, respectively.

Against the New Zealand and the Canadian dollars, the aussie advanced to a 1-week high of 1.1100 and a 5-day high of 0.9274 from yesterday’s closing quotes of 1.1059 and 0.9209, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 0.71 against the greenback, 87.00 against the yen, 1.56 against the euro, 1.12 against the kiwi and 0.94 against the loonie.

The Chinese yuan weakened against the U.S. dollar in the Asian session on Monday.

Against the greenback, the yuan fell to a 5-day low of 6.3685 from an early high of 6.3559. At Friday’s close, the yuan was trading at 6.3549 against the greenback.

If the yuan extends its downtrend, it is likely to find support around the 6.41 area.

The People Bank of China set today’s central parity rate for yuan at 6.3584 per dollar, compared to last Wednesday’s reference rate of 6.3619. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level. The Chinese banks remain closed last Thursday and Friday for ceremonies to mark the end of World War II.

The pound drifted lower against its key counterparts ahead of European trading on Thursday.

The pound edged down to 0.7350 against the euro and 183.93 against the yen, from its previous 2-day highs of 0.7323 and 184.71, respectively.

The pound that climbed to a session’s high of 1.4853 against the franc in early deals weakened, with the pair trading at 1.4811.

The pound pared gains to 1.5273 against the greenback, off its prior high of 1.5313.

The pound may possibly challenge support around 1.50 against the greenback, 1.46 against the franc, 0.75 against the euro and 180.00 against the yen.

The Canadian dollar weakened against most major currencies in the Asian session on Monday.

The Canadian dollar fell to an 11-year low of 1.3258 against the U.S. dollar, from last week’s closing value of 1.3179.

Against the yen and the euro, the loonie dropped to near 1-1/2-year lows of 91.07 and 1.5234 from Friday’s closing quotes of 92.51 and 1.5005, respectively.

If the loonie extends its downtrend, it is likely to find support around 1.33 against the greenback, 90.00 against the yen and 1.54 against the euro.