Wednesday, August 12, 2009

EUR Goes on Falling against the Yen

Yesterday the EUR performed a record 1.9% loss against the Japanese Yen. The reason of such a decline appeared to be negative data from German consumer prices in July raising opinions that the ECB will maintain interest rates at a record low till the end of the year. The EUR traded $1.4154 from $1.4142 late Monday and was at 135.74 yen, down from 137.32.

The British equity market movements tend to have major affects on the Pound`s value. Even more, Forex traders are staying cautious ahead of today's BOE inflation announcement. Looking ahead to today`s events from the U.K which will likely impact the Pound for the rest of the week with the Claimant Count Change to be released at 8:30 GMT. The Euro-Zone Industrial Production report is also set to be announced at 9:00 GMT, negative results will likely put further downside pressure on the EUR.

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