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Daily Forex Snapshot: 08-28-2008

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Forex - Late US Session-Dollar Bulls On Hold Ahead of US GDP Data

G10 Advancers and Decliners vs USD
Nzd0.09
Nok-0.01
Cad-0.09
The Usd saw a slight pullback in the US trading session, but regrouped in the latter part of the day. The EurUsd fell 70 pips to the low 1.47 level, while the UsdJpy gained 20 pips to the mid 109 price area. The GbpUsd slid 57 pips, trading with a 1.83 handle on strong economic data expected out of the US tomorrow. Equity markets rallied in the US, despite halted trading in Fannie Mae towards...
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Daily Forex News & Commentary: 08-28-2008

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ECB’s Weber reopens speculation about interest rate increase despite FOMC suggestion for a Federal Reserve rate hike

The Dollar tumbled from six-month peaks against the Euro on Wednesday, as comments by European Central Bank official reopened speculation about an interest rate increase in the euro zone to fight persistent inflation pressure. It also fell against a basket of six major currencies, retreating from this year's highs. Still, investors remain wary of recent troubles in the US financial system as...
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