Forex: Dollar slightly up despite gold

Sun, Nov 22 2009, 23:31 GMT
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FXstreet.com (Buenos Aires) – Dollar opened the week slightly up, favored as Japanese Yen by general down turn in risk appetite, despite gold gap higher to a fresh record above $1158/oz. Still, major crosses remain inside past weeks trading ranges, and likely to remain inside them during current Asian session, due to Japan holiday. Local share markets also may be weighted by Wall Street’s weakness, after past Friday DJIA ended down 0.1% and S&P down 0.3%.

EUR/USD quotes at 1.4860, very close to 1.4800/10 base of mentioned range; GBP/USD at 1.6490 capped under 1.6520/50 resistance area, while USD/JPY keeps flat, struggling around the 89.00 area. Majors likely to follow stocks as no other cues are on sight for currencies, during the next sessions.

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