Euro Slid Slightly in Asian Hours | IFCM Hong Kong
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Euro Slid Slightly in Asian Hours - 27.2.2012

US Dollar Asian trading session was rather quiet on the first day of the week. The dollar lost a part of its previous gains against the Japanese yen. At the same time the greenback strengthened slightly against the Australian and Canadian counterparts, but both pairs are moving mainly sideways. Today reports from the United States may show another confirmation of a moderate economic recovery. According to preliminary estimations, the number of pending home sales increased by 1% in January, following a 3.5% drop in the previous month. The dollar index stayed at 78.40 his morning, close to its 10-week low 78.22. Euro Following 7 days of gains the single currency is trading close to 1.3485 against the greenback, the highest level since December 5 of 2011. In Asian trading hours the pair moved slightly toward 1.3400, but is still supported by the Greek rescue program. Today as well the German Parliament’s lower house is scheduled to vote on the 130 billion euros aid package for Greece. Yesterday the Group of 20 reported that it is ready to increase funds available to the IMF after the euro zone increases the region’s bailout fund. Japanese Yen In the morning the Japanese yen strengthened against the US counterpart. The pair USD/JPY fell from a nine-month high 81.60 to below 81.00. The strong move came after a considerable depreciation of the Japanese currency which started at the beginning of February from the levels close to 76.00.
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