Forex:The Pound Under Pressure

The Forex daily analysis Night view Asia / Europe USD The book under strong pressure to reach new lows Volumes are low, given Obama’s inauguration day events times EASTERN (-5 GMT) Unpublished Wednesday All times EASTERN (- 5 GMT) 10:00 a.m. USD Treasury Secretary Geithner and his nomination speech 1:00 pm USD NAHB Housing Market Index Currency Market After the long weekend, on Monday, the greenback gained ground against major currencies.

This morning, the USD continued its recent upward trend and gained ground against major currencies. The highlight of the evening was the fall of the book reached new lows. Operating volumes were low, but showed double action, while the values recorded in CABLE and minimum 1.4100 1.3912 in New York early. The fall in the pound was influenced also by the sale of books by Russian traders, as the Russians claim now to support its currency, the ruble. It is estimated that the Russians sold about 10 billion during the last 24 hours, most pounds. The book reached its lowest value since July 2001, and those who were long received large losses.

Those who were short took large profits. It is estimated that the GBP will test the 1.3600 area if not managed to stay in 1.3850. The euro also fell, and there was a two-way trade with agents of roots on the scene when the currency reached 1.3020.