Friday, 14 September 2012

EUR/USD Rises, USD-Selling Mode After Fed Decision


The EUR/USD rises, now at 1.3015, as short-term investors are currently in a broad USD-selling mode after the Fed decided on an open-ended bond buying program on Thursday, says a senior dealer at a major bank in Tokyo. He adds that there are small-sized stop-loss buying orders at the current rate, and that trading volume in Asia is somewhat thin, meaning the pair may keep rising for now, though he didn't give a near-term resistance saying "there is no such a thing in this kind of market."

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