| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.292 | 102.4 | 1.6175 | 1.1895 | |
| Resistance | 1.2895 | 100.55 | 1.6005 | 1.186 |
| 1.267 | 99.7 | 1.583 | 1.18 | |
| 1.2525 | 98.3 | 1.5605 | 1.1685 | |
| Support | 1.2335 | 97.4 | 1.5565 | 1.155 |
| 1.2335 | 96.35 | 1.5505 | 1.1475 |
The yen rose against the Australian dollar and British pound as falling interest rates make it less attractive to buy overseas assets using funds from Japan. ``The RBA has suggested there will be another rate cut, while the ECB and the BOE may follow suit,'' said Kimihiko Tomita, head of foreign exchange in Tokyo at State Street Bank & Trust Co., a unit of the world's largest money manager. ``The yen will be one of the strongest currencies, and those in Europe and Australia will fall as they need to cut rates aggressively.'' The USD/JPY is currently trading at 98.95 as of 8:35am, GMT.
The euro fell for a fourth day against the dollar on speculation the European Central Bank will lower rates to cushion the impact of a slowing economy. The ECB will cut its benchmark rate by half a percentage point to 3.25 percent when it announces a policy decision on Nov 6th , according to traders and economists. The Euro-zone economy probably entered a recession this year and will stagnate in 2009, the European Commission said yesterday. European manufacturing contracted at a record pace in October and faster than initially estimated, data showed yesterday. The EUR/USD is currently trading at $1.2645 as of 8:33am, GMT.
Sterling fell against the dollar on Monday, reversing earlier gains as risk aversion returned to dominate sentiment, sending European equities lower and fuelling a rally in low-yielding currencies. Thin liquidity caused exacerbated moves across asset classes as investors grew wary about the likely impact of expected rate cut decisions from the European Central Bank, the Bank of England, whilst the Bank of Australia has already cut 75 basis points. The GBP/USD is currently trading at $1.5745 as of 9:26am, GMT.
Today's Economic Events
| Time | Event | Currency | Period | Previous | Forecast | Significance | Actual |
| 23:50 | Monetary Base y/y | JPY | 0.90% | 2 | |||
| 15:00 | Factory Orders m/m | USD | Sep | -4.00% | -1.00% | 1 | |
| 10:00 | PPI m/m | EUR | Sep | -0.50% | 2 | ||
| 9:30 | Construction PMI | GBP | Sep | 38.8 | 2 | ||
| 6:45 | CPI m/m | CHF | Oct | 0.10% | 0.40% | 2 | 0.50% |
| 3:30 | Interest Rate Statement | AUD | 6.00% | 5.50% | 3 | 5.25% |
