Forex: EUR/JPY at highs after ECB

The shared currency edged slightly higher versus the yen and touched a fresh daily high after the European Central Bank decided to keep its main rate unchanged at 0.75% as expected.

EUR/JPY rose nearly 30 pips and hit its highest in 10 days at 122.94. At time of writing, the cross is trading around 122.85, where it is 0.7% above its opening price.

Attention now turns to the upcoming press conference by ECB President Mario Draghi at 13:30GMT.

Mar 7, 2013

Forex: EUR/USD muted on ECB inaction

The single currency remained indifferent after the ECB failed to deliver any surprises in today’s statement, leaving the lending benchmark intact at 0.75%, matching the broader consensus...

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Mar 7, 2013

Forex Flash: Gilts receive positive signal – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “The price of Gilts have formed an inside session – Harami cross (although technically not perfect, as the low was below the previous one). The price action shows a rejection of the pull-back and the last candle's body within the previous one can be read as a reversal signal. Therefore, I hold my bullish stance with a caveat of a sustained break of 116.54, which, If happens, would point to the price dipping to 116.11 or even 115.75. In the long term, a pennant on a daily chart suggests there would be good chances of extending the rally to 118.37 onto 119.00. These are Fibonacci levels on a weekly continuation chart.”

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