European single currency

The European single currency declined against US dollar, Swiss franc and Japanese yen after the releases of German final CPI figures and wholesale price index for May.

The euro declined to a 2-day low of 1.2188 against the franc, compared to yesterday's close of 1.2212. Presently, the euro is trading at 1.2194 against the franc with 1.21 seen as the next downside target level.

The European common currency regained its losses from a 6-day low against the dollar and the yen and it rose to multi-day highs against the franc and the pound despite worries over a political crisis in Portugal and mixed PMI data.

On Wednesday in early European trades the euro raised against major currencies on reports that producer price index for the euro-zone's largest economy accelerated in September from the previous year.

The European single currency that slid to nearly a 1-month low of 111.58 against the yen in early Wednesday Asian deals reversed direction in early Europe deals and touched as high as 112.29 around 3:50 am ET. The euro-yen pair is presently worth 112.24 with 112.90 seen as the next likely target level.

 On Monday Asian deals the euro increased against U.S. and Japanese currencies on optimistic reports coming from Europe. Meantime, the European single currency dropped to a new multi-week low against the pound while losing its ground against the Swiss franc.

The euro, which closed last week's trading at 1.4848 against the dollar soared to a 2-week high of 1.4987 in early deals on Monday. The next upside target level for the euro-dollar pair is seen at 1.506.

 The European single currency reversed its trend amid the release of the Eurozone October economic sentiment index report. It rose against the Swiss franc while it weakened against other majors. As of 6:05 AM ET the euro is trading at 1.5114 against the franc, 1.4748 against the dollar, 133.82 against the yen and 0.8978 against the pound.

Earlier on Thursday during European deals, the Euro bounced back against its US, Swiss and Japanese counterparts ahead of the Eurozone economic sentiment report, which was forecast to rise in October.


 

 During Monday Asian deals the Japanese yen lost its gains to other majors as a rally in most Asian stocks reduced demand for the safe-haven Japanese currency.

The yen that jumped to a 5-day high of 149.19 against the pound in Asian deals on Monday pared its gains thereafter. As of now, the yen is worth 150.08 against the pound with 152.0 seen as the next target level. At Friday's close, the pound-yen pair was quoted at 150.24.

 The Japanese yen lost its ground against majors during early Asian deals on Friday. The yen dropped along with the dollar today on speculation the global economy is exiting recession.

During Asian deals on Friday, the yen plunged to new multi-month lows of 137.87 against the euro and 91.23 against the franc. The next downside target level for the yen is seen at 91.56 against the Swiss currency and 138.7 against the euro. The euro-yen and the franc-yen pairs were worth 137.26 and 90.93, respectively at yesterday's close. 

 On Wednesday the US currency dropped to a 5-week low against the pound, while also losing its ground against Swiss franc and the single European currency. On the other hand the dollar recovered versus the Japanese yen.

The dollar strengthened against the yen after touching a low of 90.50 at 3:15 am ET Wednesday. Currently, the dollar-yen pair is worth 91.01, up from yesterday's close of 90.70. If the pair advances further, it may target the 91.3 level.