U.S. Dollar Maintains Its Gaining

Daily Forex Fundamentals | Written by Crown Forex | Sep 10 08 15:05 GMT |

Lehman Brothers the U.S. fourth biggest securities firm reported today its biggest loss ever, yet the firm announced procedures in order to help restore their capital which provided hope for investors and encouraged them into continuing their carry trades transactions and accordingly helped the U.S. dollar maintain its gains against majors.

The Euro rose today at the start of the Asian session to set a high of 1.4178 but declined after comments from Mr. Trichet that showed that downside risks to growth prevails while upside risks to inflation persist, while the EU Commission said today that the 15-nation economy would probably grow by 1.3% this year down from their previous estimate of 1.7%, the Euro declined as a result to set a low of 1.4074 and now trading around the 1.4130s levels.


The Pound is still weak against the U.S. dollar as the U.K. released today their trade balance which showed the deficit widened beyond expectations, the pound against the U.S. dollar recorded a low of 1.7550 and a high of 1.7676.

The U.S. dollar managed to rise today against the Japanese Yen as investors are indulging carry trade bets so far, the USD/JPY pair recorded a low of 106.58 and rose to set a high of 107.73, yet the pair is still not able to breach the 107.63 resistance level which would open the way back to the 108 levels.

Crown Forex

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