Daily FX News Monday 26th November, 2012
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This morning in the Foreign Exchange market all eyes will be on the Eurogroup that is meeting today and we hope it will bring some solution for the next aid tranche for Greece.
This morning the GBP/USD moved within a 25 pip range between 1.6015 and 1.6039 as some optimism linked to US holiday spending season pushed Asian stocks higher.
The pair lacked momentum and found respective support and resistance between the Camarilla S1 and R1 levels at 1.6018 and 1.6043.
This morning the EUR/JPY is currently at 106.57, off previous fresh 7-month highs at 107.13 on the back of latest Bank of Japan minutes, giving hopes for further monetary policy easing. The bank also noted weakening economic environment.
The weaker sentiment seen on Asian session, allowing greenback strength, is being erased now. After reaching 0.9299 high, the USD/CHF tumbled down to 0.9280 and now is eyeing the possibility of further downside.
It was noted that Spanish Mortgages for Housing fell 32.2% versus September of last year.
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