The EUR/USD is lower on concerns as Greece's lenders hold out on an urgently needed bailout installment, as well as stop-hunting for stop-loss orders below 1.2700, says Junichi Ishikawa, forex analyst at IG Market Securities in Tokyo. The focus is on Germany's ZEW indicator of economic sentiment for November out later today, he says, "and the EUR could be sold if results are below expectations and fuel further concerns over the euro-zone debt crisis," he says. Ishikawa adds that down-side risk for the pair could persist unless the pair climbs above technical resistance at 1.2817. Weaker Asian stocks are also hurting risk sentiment, he says, leading to USD and JPY buying. "The USD/JPY seems to be pulled down by falls in JPY crosses," he says. The EUR/USD is at 1.2679 and the USD/JPY is at 79.40.
Find us on Google+
No comments:
Post a Comment