6 May 2014
Session Recap: Comatose EUR/USD remains at 1.3870
FXStreet (San Francisco) - The currency market started the week with a quiet session on Monday as investors are waiting for developments in this week's ECB meeting.
Talks that Russia is buying euros in any single dip is fueling bulls and holding the EUR/USD above the 1.3800. In addition, Jamie Coleman from FXBeat and Dale Pinkert from FXroom agreed that Russia cutting off gas supply to Europe would push Draghi to act.
In this framework, the EUR/USD posted its first single day decline since April 29 but the loss was small as the pair traded in a small range in between 1.3870 and 1.3880.
The GBP/USD declined for second day as the pair closed at 1.6865. Cable is extending losses from multi-year highs at 1.6915. The USD/JPY declined to price sub-102.00 levels however the pair managed to recover and it finished the day at 102.15.
Talks that Russia is buying euros in any single dip is fueling bulls and holding the EUR/USD above the 1.3800. In addition, Jamie Coleman from FXBeat and Dale Pinkert from FXroom agreed that Russia cutting off gas supply to Europe would push Draghi to act.
In this framework, the EUR/USD posted its first single day decline since April 29 but the loss was small as the pair traded in a small range in between 1.3870 and 1.3880.
The GBP/USD declined for second day as the pair closed at 1.6865. Cable is extending losses from multi-year highs at 1.6915. The USD/JPY declined to price sub-102.00 levels however the pair managed to recover and it finished the day at 102.15.