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Monday, January 25, 2010

Forex: Dollar pulls back on Monday on a quiet session

FXstreet.com (Córdoba) – Greenback finished mostly lower across the board after last week rally and rose slightly against the Yen and the Canadian Dollar. The Japanese currency ended with losses. 

EUR/USD finished barely above the price it had at the beginning of the day after being unable to break above 1.4200. The Euro lost ground against the Pound and the Yen. 

USD/JPY tested several times the resistance zone at 90.30 but failed to break above. The pair moved in ranges most of the day. Against European currencies the Yen’s decline was bigger. 

Currencies tied to commodities finished slightly up but remain near last week lows. 

Markets appear to be on hold waiting for major economic news to be published on coming days, which include interest rate decision in Japan and the US and GDP figures in UK. 

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