EUR can resurface above $1.2400, if risk appetites returns - BBH
|The euro initially extended its three-day advance into today's session, and poked briefly above $1.2390 to see its best level since last Wednesday, notes the research team at BBH.
Key Quotes
“It was met with good offers, and returned to where NY left it yesterday (~$1.2350). Support is seen near $1.2340, and if risk appetites return following the US CPI, the euro can resurface above $1.2400. That said, there are more than 2 bln euros of options struck between $1.2340 and $1.2350 and another 1.5 bln euros struck at $1.2400, all of which expire today.”
“The euro is straddling resistance near GBP0.8900. On an intra-day basis, it reached nearly GBP0.8930, it is has struggled to close above it since late last November. Against the dollar, sterling is trading within yesterday's ranges, but is still within last Friday's range (~$1.3765-$1.3985).”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.