EUR/USD
Volatility increased sharply during Monday, as the fear reigned in the market. The Euro fell sharply below the all-time low against the dollar before the 1.4150 rebounded 1.4280 and then to deteriorate late in the US session. The desire of the risk-taking was extremely fragile, every supported some of the net US dollar. Libor spread increased by two years WOULD BE great, which illustrated the fears the growth of the market.
Was an increase in tension in the euro area, with the yield on the peripheral to the widening focus since in Spain and in Italy, the sharp points during the day. Increased yields in an Italian 14 years highs during the session, although the Spanish yields also rose sharply. Italian officials have even though the Spanish Prime Minister Zapatero also found the plans for the holiday to monitor the situation of economic postponed during the Wednesday due to hold meetings.
The speculation was still being required to expand the EFSF but this heavy political opposition and walk into the market doubted whether the commitment, in particular, the increase in the term near, Germany. It was also the ECB would be forced to intervene, that speculation in the buy and the peripheral bonds on the open market Friday s important Council meeting with focus.
US-Senate approved the US debt ceiling to comfortably in the legislation and the Obama signing the Bill officially s, removed from the default value is at risk. Moody s the formal U.s. AAA credit rating, although the Fitch stated that the situation was still under review. There was no announcement by Standard & Poor's s.
The information of the United States, the personal consumption of the annex was once again for the first time in two years, the deterioration of the conditions of the expectations is maintained in a weaker. Service sector PMI data to watch very closely Wednesday, still in the economy.
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The Yen
Support of the dollar against the yen to 77 below found Tuesday, but was unable to make significant flow interval. Both currencies is derived from the defensive support, which curbed the pair move to some extent. Found some support for the euro above 109 yen, against a
The yen will continue to receive support in the deterioration of the international desire for risk-taking and fears over demand in the economy is not a General of the Ministry of finance remained. warnings, the warnings for intervention on the market in that very closely watched, but there is still no sign of official activities with potential.
The other was speculation that intervention to weaken the Japanese currency, possibly in parallel with the Bank of Japan continues to be the instant messaging system, through the policy of the monetary policy meeting on Friday, it should be.
Sterling
Sterling hit the resistance against the dollar during the period of more than 1.63 Tuesday and weakened the lowest near the surface of the Earth recovers before 1.6220 very choppy trading conditions.
PMI construction index was slightly stronger than expected decline in small, with 53.5 in July formerly 56.5, which gives some relief when a BRC trading and price index edged slightly lower at 2.9% and 2.8% of the previously.
The index of the service sector which followed very closely the Wednesday and the weak, reading, should continue to regulate the pressure on the growth of quantitative mitigates England. According to the Bank in the banking sector should also watch closely and there were doubts that the new liquidity stresses would still damage the prospects of borrowing, which would also increase.
UK currency received some support as a place of refuge for the euro area, and continues to push the two woes-month high close was at 0.87 against the euro.
The Swiss franc
The euro hit the resistance against the franc on Tuesday near the 1.1150 and was still a very strong selling pressure during the day due to the rapid declines in fresh record close to the all-time low, before the limited enjoyment of 1.08. The dollar was unable to make any impression, and the franc, weakened the new record, close to the all-time low, before the initial recovery. 0.76
Yesterday's demand management group, the operation of the markets, continued during the period increased fears in the euro area and global for breakfast economies are triggering a fresh demand for the Swiss currency. The fears of the competitive situation of the home country through increased and take decisive measures and to intervene aggressively at the Central Bank to be the fresh pressure.
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Australian dollar
The Australian dollar was unable to back the US currency, against the level of 1.0920 during Tuesday, and was still intense selling pressure during the day, with the lowest, the retreat of the local commerce under 1,07 Wednesday before a partial recovery.
The currency was undermined by a severe deterioration of the desire of the risk-taking, fear of increased and stock markets came under heavy selling pressure. Domestic retail sales report was stronger than expected, with the decline of 0.1% in the June PMI index of service sector be compressed remained below 50, despite a small improvement in the level of each month.
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