euro

The UK pound slid to a 4-day low against the euro on Monday after a report showed U.K.'s manufacturing sector declined for the first time in two years in July. The sterling also depreciated against other majors.

The pound slipped to a 4-day low of 0.8788 per euro and the next downside target level for the UK currency is seen at 0.880.

The yen surged against a basket of currencies on the weaker US economic data in the second quarter.

As of 8:45 am ET, the yen traded higher at 77.13 against the US dollar, 126.13 against he pound, 110.41 against the euro, 66.66 against the New Zealand dollar, 80.52 against the Canadian dollar and 84.30 against the Australian dollar.
 

On Friday the Swiss franc surged against majors as traders sought for safe haven currencies after the weaker than expected US economic growth report.

According to the data by the US Commerce Department the US economy grew at a slower pace than expected in the second quarter of 2011. U.S. gross domestic product grew at a 1.3 percent annual rate for the second quarter of 2011. Most economists had predicted a somewhat more robust, 1.9 percent growth in GDP.

The euro lost its gains against the dollar and the yen as traders sold the single currency after Standard & Poor's warned that Greece's debt rollover plan could shift the ratings into selective default.

Meanwhile, the euro fell to a 4-day low against the pound.

The euro declined to a 4-day low of 0.9007 against the pound, compared to last week's close of 0.9043. If the euro slides further, it will fall below 0.90 and target the 0.898 level.

On Monday gold increased by 0.5% as investors decided to benefit from the lowered prices while expecting the euro to further advance against the US dollar.

Spot gold was quoted at $1,494.59 an ounce at 1138 GMT compared to $1,485.80 late in New York on Friday. U.S. gold futures for August delivery rose $12.60 an ounce to $1,495.20.

Greece last week approved austerity measures needed for it to access another tranche of funding from the European Union and IMF, sparking a relief rally in some assets seen as higher risk, and weighing on gold.

The UK pound dropped against most majors in early trading on Thursday in spite of a rally in European equities as traders were getting the disappointing consumer confidence data from the U.K.

Moving further down the UK pound achieved a 3-day low of 128.45 against the Japanese yen around 5:30 am ET. At the moment the currency pair is trading at 128.51 with 128.20 seen as the next likely downside target level.

The Swiss franc was trading diversely on Thursday having declined against the dollar and yen, while appreciating against the pound and leveling off versus the euro.

Having dropped to an 8-day low of 1.2098 against the euro at the beginning of Thursday's European deals the franc moved sideways in the following sessions.

The euro-franc pair thus moved just above the 20-day SMA and is presently trading at 1.2080 with 1.2150 seen as the next likely resistance level,ie, the 30-day SMA. On the downside, the pair may test support around the 1.1980 level.

Tuesday gold increased again to above $1,500 an ounce in Europe regaining its losses in line with oil prices as hopes that Greece's debt crisis may be contained tempered risk aversion.

Gold is closely linked to foreign exchange moves, as it is often traded as a currency.

Spot gold was bid at $1,501.39 an ounce at 1108 GMT, against $1,496.20 late in New York on Monday. U.S. gold futures for August delivery GCv1 rose $5.90 an ounce to $1,502.30.

The European single currency dropped against major rivals during early European trading on weakening equities as traders are reducing the euro positions ahead of the two-day Brussels summit.

The euro declined against the US dollar to a 3-day low of 1.4252. The next downside target level is seen at 1.4186.

The common currency depreciated against the Swiss franc to a 1-week low of 1.1981 around 3:15 am ET. At the moment the currency pair is quoted at 1.20. On the downside the next target level is seen at 1.1948.

The Swiss franc surged up against major counterparts in early trading on Thursday as the official report showed that Switzerland saw its trade surplus increased to a record high of CHF 3.31 billion last month.

Against the UK sterling the franc increased to a new record high of 1.3443 and the upside target level is seen at 1.3464.

The franc rose to a 1-week high of 1.1977 against the euro at about 5:40 am ET. At the moment the currency pair is trading at 1.1979. On the upside level the next target is seen at 1.1948.

The US dollar rose versus its major rivals in the Asian trades on concerns over fiscal debt crisis in Greece.

At present the dollar trades 1.4230 against the euro, compared to Friday's close of 1.4305. The next upside target level for the dollar is 1.415.

The US dollar trades 1.6130 against the UK pound with the next upside level seen at 1.610.

Having closed Friday's trading at 0.8490 against the Swiss franc the greenback is now trading at its 4-day high 0.8517. On the upside the next target level for the US dollar is seen at the 0.855 level.

The Japanese yen increased further after its gains in the previous session, reaching new highs against the pond and the franc.

The yen achieved a 6-day high of 130.05 against the pound, compared to yesterday's close of 131.15. 129.00 is seen as the next upside target level for the yen. Presently, the pair is traded at 130.16.

The Japanese yen moved to a new 3-week high of 94.53 against the franc and the next upside target level for the yen is seen at 94.00. The pair that closed yesterday's trading at 94.96 is as of now worth 94.62.

The UK pound moved lower against its rivals in early European deals.

The pound declined to a 2-day low of 1.3714 against the Swiss franc, compared to 1.3816 mark achieved late New York Wednesday. At present, the pound is trading at 1.3720 against the franc with 1.37 seen as the next downside target level.

Against the US dollar, the sterling dropped to more than a 3-week low of 1.6116 and the next downside target level is likely seen at 1.60. At yesterday's close, the currency pair was worth 1.6196.

The UK sterling declined against major rivals during its European session on Wednesday after the report that the U.K. jobless claims increased more than expected in May.

The pound dropped to a 2-day low against the dollar and eased from fresh 2-week highs against the euro and the franc.

The pound is now trading at a 2-day low of 1.6309 against the dollar with 1.622 seen as the next downside target level. At yesterday's close, the pound-dollar pair was quoted at 1.6375.

The Swiss franc depreciated against its counterparts as a rally in Asian and European stocks diminished demand for lower-yielding currencies.

The Swiss franc slipped to a 4-day low of 1.2146 against the euro around 5:15 am ET, giving back gains from Monday's fresh record high of 1.2007. On the downside, 1.2230 is seen as the next likely target level for the alpine unit. The euro-franc pair is presently trading at 1.2123.