Home » Euro vs Dollar Daily Chart » Euro vs Dollar 12 Aug 2010

Euro vs Dollar 12 Aug 2010

euro vs. dollar

Tuesday’s FOMC meeting may, at last, have brought the recent very long “short squeeze” in the euro vs dollar to an end with yesterday’s forex trading session ending as a wide spread down candle which saw the pair close at USD1.2849, stopping just short of the 40 day moving average This morning has seen the pair attempt to rise only to fall back once again towards the 40 day moving average, which is now the only barrier left to a deeper move to re-test major support in the USD1.25 price region.  From a fundamental perspective one the reasons for yesterday’s sharp fall can be found in the bond market which has seen a dramatic inflow of cash with the yield in 10 Treasuries falling to their lowest point since the middle of last year – in other words it is the bond markets which now appear to be driving the exchange rate.

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