Forex: EUR/USD bouncing off 1.3080

FXstreet.com (Barcelona) - After correcting to the boundaries of 1.3080, the single currency has managed to gather traction and not only regain 1.3100 but also to test session highs around 1.3125/30.

The selling pressure picked up pace after the upbeat data from the weekly report on the US labour market, dragging the cross lower. The sentiment however remains biased towards the risk-on trade.

EUR/USD is now up 0.45% at 1.3129 facing the next hurdle at 1.3146 (MA55d) followed by 1.3148 (MA100d) and then 12.3163 (high Feb.28).
On the downside, a breach of 1.3044 (hourly lows Apr.11) would expose 1.3006 (low Apr.9) and finally 1.2963 (low Apr.8).

Apr 11, 2013

Forex Flash: Market volatility in Japan looks to settle soon – UBS

With regards to the JPY and JGBs, it is risk we cannot dismiss entirely, especially given much of this exposure may have been unhedged on the currency side. However, “According to Research Analyst Gareth Berry at UBS, we think the volatility which has plagued the market for the past week will eventually settle down, and investors who can stomach it will probably be rewarded for their patience.”

Forex: GBP/USD resumes upside and hits fresh high

Following a short-lived correction, Cable resumed the upside and recently rose back above the 1.5400 level to print a marginal new high as risk appetite regains traction.