Flash: EUR/GBP still at 55 d ma - Commerzbank

FXstreet.com (London) - Axel Rudolph, Senior Analysts for Commerzbank said that EUR/GBP briefly dropped to 0.8470 on Wednesday before stabilising around the 55 day moving average at 0.8500.

EUR/GBP remains defensive

“It remains on the defensive, though” he said and continued to explain that rallies will find minor resistance at 0.8550, Tuesday’s high, ahead of the 0.8563 resistance line and the 0.8597 May high. “We should see this continue to hold the topside for a slide back to the 0.8422 mid-May low”. He said that failure here will leave the currency pair weighing on the downside and target the 2012-13 support line at 0.8373.

Jun 13, 2013

Flash: Foreign Investors exit Japan – BBH

There is speculation that foreign investors, who had bought tens of billions of dollar worth of Japanese shares since Abe was elected prime minister, have just begun to exit.

Flash: USD squeeze to pause? – Investec

According to Lee McDarby, Corporate Treasury at Investec, “The US data releases this afternoon, which will shed further light on the underlying momentum in the economy and may cause a brief pause in the dollar squeeze.”