Forex: Tuesday’s review
The yen rose against major counterparts before a government report that economists say will show orders for U.S. durable goods decreased, bolstering demand for the Japanese currency as a haven.
The dollar and the yen declined as stocks rallied around the world on optimism European leaders are close to an agreement to contain the region’s debt crisis, damping demand for refuge.
The euro gained for a third day versus the dollar after German Chancellor Angela Merkel said her nation would help Greece meet the terms of its bailout agreement and Greek Prime Minister George Papandreou won support in parliament for an expansion to the region’s rescue fund.
EUR/USD: the pair rose.
GBP/USD: the pair rose and showed new weekly high at $1.5700
USD/JPY: yestherday the pair hold Y76.25-Y76.90.
Focus today Troika to return to Athens to continue inspection/review. Finnish parliament vote on the amendment to the EFSF framework
agreement at 1100GMT. Later U.S. Durable Goods Orders August and U.S. EIA Crude Oil Stocks change.