Daily Financial Market News

EUR/USD – Hours of straight negotiations finally produced a bailout deal which was confirmed early in the morning. The euro quickly hit two-week high on the news reaching US$1.3293. With much of the impact factored in the succeeding trading sessions focus reverted back to hurdles to implementing the deal and the pair settled near US$1.3233.

USD/CHF – Following its spike down overnight on the Greek agreement, the pair etched back losses to CHF0.9145 day high. Caution prevailed and the markets drifted back to the safety of the dollar as the pair regressed to CHF0.9123.

USD/JPY – The Yen eased against the dollar to close back in on the previous day’s low touching ¥79.85. Midday the pair slipped to ¥79.62, but hovered close to 6-and-a-half month high.

GBP/USD – Improving UK economic outlook continued as Public Sector Net Borrowing figures beat expectations posting -10.7 billion against forecast -8.9 billion. Moves in Cable continued to be dominated by Europe and the pair sank to US$1.5772 with investors remaining extremely vigilant.

AUD/USD – Similar to the broader moves, the pair struggled to a US$1.0750 high. Flight to the US dollar as a result of waning sentiment tripped up the pair to US$1.0656.

EUR/USD – Close, but no cigar in Greece as markets still wait for the bailout deal to be agreed. Whilst the debt saga drags on markets remained optimistic and expectations that an agreement was imminent drove the euro higher. Overnight, China cut its reserve ratio requirement by 50bps which sent the pair to US$1.3237, before Greek optimism capped a session high of US$1.3277.

USD/CHF – The pair shifted a leg lower today to languish near 11-week lows after hitting CHF0.9087 with cautious optimism over Greece driving investors back into riskier currencies.

USD/JPY – Dollar strength drove the pair to its highest point since Augusts BoJ intervention as it capped a ¥79.89 high overnight. This could not be sustained and the Yen clawed back some losses to finish in Europe near ¥79.62.

GBP/USD – The broader move higher overnight was supported throughout the day by expectations of an impending deal for a second Greek bailout. Cable posted session high of US$1.5880 which it failed to hold as concerns lingered about the recovery of the UK economy.

AUD/USD – The pair gapped higher overnight as it hit US$1.0816 high. During the day the general improvement in sentiment aided the pair, but it grinded lower to finish near US$1.0750.

EUR/USD – The euro crept higher to reach US$1.3197 as sentiment improved on optimism regarding a bailout agreement. This optimism was reigned in at the New York open with investors looking ahead to a meeting of euro zone finance ministers on Monday.

USD/CHF – As markets nervously await a decision on the Greek bailout package the pair hovered near CHF0.9186. A CHF0.9161 low at the New York open was quickly reversed.

USD/JPY – The Yens descent continued as it reached a ¥79.46 high within touching distance of October’s intervention high of ¥79.54.

GBP/USD – Cable got a boost from surprise retail sales data which posted a 0.9% m/m gain against expectations of a 0.3% drop. This shot the pair up to a US$1.5862 high for the session. It couldn’t hold on to these gains though and slowly leaked them back. The pair closed higher on the day near US$1.5845.

AUD/USD – The Aussie dollar rallied overnight to cap a US$1.0799 high, but gave away these gains into the London open. This reversal continued and the pair eventually collapsed to US$.0688.

EUR/USD – The euro recuperated a large proportion of its previous day’s losses as the pair raced higher on progress towards a Greek debt swap deal. Euro zone central banks looked at the possibility of exchanging their current holdings of debt with new bonds in Greece and sent the euro to US$1.3158 after it previously languished near US$1.2975.

USD/CHF – Overnight the pair reached a near 3-week high at CHF0.9300. Shortly after revitalised optimism over Greece caused the pair to plunge to CHF0.9175 reversing all its earlier gains.

USD/JPY – The USD found further stimulation from a surprise fall in unemployment claims. Along with the BoJs recent actions Yen weakness endured as the pair reached ¥78.93 before finding resistance.

GBP/USD – Bolstered by a squeeze higher at the London 4pm fix, Cable bounced off recent lows to reach US$1.5817 as investor tensions eased on news out of Greece.

AUD/USD – The Aussie dollar spiked higher overnight on vastly improved labour market data as employment change posted an increase of 46.3k. These gains given up quickly though as pair touched 1.0646 low in early London. Eventually broke broadly higher on improved risk appetite hitting US$1.0773 high. 

EUR/USD – The euro edged higher overnight to US$1.3190, but again sold-off heavily during the day due to fraying tempers between euro zone officials and those in Greece over the bailout package. Exacerbating default fears saw the pair sell off sharply to US$1.3044 lows as news of Chinas commitment to purchasing Eurozone debt failed to support it. 

USD/CHF – The pair spiked higher on news flows out of Greece and the dollar continued to strengthen until the close reaching CHF0.9251 high.

USD/JPY – Following the BoJs vow to purchasing more Government bonds, the pair initially moved higher to 78.61. During the day support for USD did ease, however Yen gains found resistance at 78.19 and subsequently the pair squirmed higher.

GBP/USD – The BoE inflation report raised its inflation forecast dampening expectations of further easing which supported Cable as it hovered near recent lows. A choppy session saw US$1.5736 high early on with underlying concerns about economic recovery restraining any gains.

AUD/USD – The risk correlated pair made strong gains overnight on optimism from Chinas support in Europe. However it ultimately succumbed to Greek fears as a bailout plan remained elusive and fell to US$1.0680.

EUR/USD – The euro made a brief move higher following another better-than-expected German sentiment survey posting a positive figure of 5.4. The pair reached US$1.5770 before the recurrent Greek tragedy stemmed gains as a Moody’s downgrade sealed a move lower to a US$1.5645 low.

USD/CHF – Pair dipped to CHF0.9143 after muted overnight action. Fresh downgrades in Europe from Moody’s led investors back to the safety of the dollar sending the pair to CHF0.9229.

USD/JPY – Action from the BoJ in the form of asset-buying and lending increases resulted in the Yen falling to its weakest since October’s intervention. The ¥10 trillion increase to the programmes sparked concerns about the condition of Japans economy as the pair hit ¥78.54 late in the day.

GBP/USD – Cable posted a 2-week low against the dollar as a stark warning from Moody’s threatened the UKs triple-A rated status. The cautious mood continued ahead of the BoE inflation report and the pair tumbled to US$1.5645.

AUD/USD – The broader move higher continued to falter as the pair dropped to US$1.0629. It did manage to recoup some losses late in the day to finish near US$1.0687.

EUR/USD – The Greek parliament finally passed new austerity measures over the weekend which brought some relief to markets early in the day. The euro made gains reaching US$1.3283 high in early London trading. This did not last as investors focused on the remaining hurdles for Greece, starting with a meeting with euro zone finance ministers mid-week sending the pair to US$1.3185 low

USD/CHF – Very much a reversal of moves in the euro as it touched a CHF0.9103 low, before reversing as the dollar regained its appeal. The pair eventually reached CHF0.9162 high at the end of the day.

USD/JPY – Muted action in the pair again following yesterday’s slip into range. The Yen made mild gains on the day as the pair posted ¥77.40 low, eventually closing near ¥77.59.

GBP/USD – A quiet day on the data front left Greece free to drive the markets. Overnight and into early trading in London, a rally pushed Cable to US$1.5827 high, but concerns weighed heavy and the pair felt the pressure as it slipped back to US$1.5767.

AUD/USD – Risk-on morning drove the pair higher to cap US$1.0778 as worries emanating from Europe left the pair slightly lower at US$1.0733.

EUR/USD – Deepening uncertainty racked markets on Friday, after the positivity surrounding a Greek deal was quickly squandered. The finance ministers from the euro zone initially damaged sentiment by stating the bailout agreement was not enough, before a far-right politician from Greece stated he would  not back the agreement sending the euro back to US$1.3156.

USD/CHF – On the back of the turn in sentiment on Friday, the dollar took advantage and the pair rallied broadly reaching CHF0.9200 briefly before settling slightly lower than its peak for the day.

USD/JPY – The US dollar rebound halted as the pair eventually tripped back into old habits as it found range around ¥77.65. Finance minister Azumi continued his verbal intervention which for one reason or another  seemed to be working.

GBP/USD – In early London, Cable found some good support as it broke higher to test US$1.5850. This did not last as the prevailing troubles in Greece ultimately set the tone for the day. The flee back to the dollar resulted in the pair shedding over 100 pips as it rested near US$1.5739.

AUD/USD – The riskier Aussie dollar suffered overnight and during the day as a dovish RBA statement, concerns over Greece and wavering Chinese import data all helped drag the pair down to a US$1.0641 low.

EUR/USD – An agreement was finally reached for a second bailout package for Greece as they confirmed further austerity for the country which sent the euro to a fresh two-month high of US$1.3321. A press conference from the ECB’s Draghi further settled markets as the pair consolidated its gains.

USD/CHF – A choppy session ultimately left the pair slightly lower on the day as positive headlines out of Europe hampered the dollar. After falling to a session low of CHF0.9089, the pair managed to claw back some losses ending the day around CHF0.9123.

USD/JPY – The move away from intervention hazard extended further as the pair rose broadly to reach a ¥77.73 high, holding its gains through to the end of the day.

GBP/USD – The BoE confirmed a 50 billion increase in its asset purchase programme whilst holding its interest rate at 0.5%. With some expecting more QE, Cable benefited from lower inflation expectation and a generally more positive outlook rallying to US$1.5885. Remaining fears over Greece however, counterbalanced the move leaving the pair near US$1.5815

AUD/USD – The pair ended the day lower after an overnight rally led it to US$1.0824 high before the London open. Pressure during the day eventually dragged the pair down to US$1.0784.

EUR/USD – Little news left the euro stranded in range as a mild sell-off at the London fix to US$1.3221 was quickly recuperated. Greece discussions grinded on and no agreement yet he held the pair at recent highs.

USD/CHF – Muted action as would be expected from the pair as it follows any headlines out of Europe. Found a tight range throughout most of the day bar a spike to CHF0.9149 at the London fix.

USD/JPY – The pair drifted higher overnight to reach ¥77.19 before plunging to ¥76.71 as it found selling interest midday. It eventually clawed back the majority of these losses to close slightly above ¥77.00 level.

GBP/USD – Cable broke away from its euro correlation as frets about the potential increase in QE from the imminent BoE meeting troubled investors. Having reached a US$1.5929 high it gave way to drop to US$1.5797 low.

AUD/USD – The pair added to its recent gains overnight managing a US$1.0844 high at the London open. Concerns regarding Greece limited gains and it eventually stooped back to where it started the day around US$1.0791.

EUR/USD – A Dow Jones report suggesting Greece was in the process of creating a draft agreement fuelled a short-squeeze sealing a move higher for the euro as it breached US$1.3200 on its way to a US$1.3270 high. Comments from the Fed’s Bernanke heaped further pressure on the dollar as there were suggestions there could still be further QE.

USD/CHF – A dip prior to the London open was slowly reversed as the pair reached CHF0.9227 session high. Murmurs of a Greek resolution sent the pair close to 9 week lows as it bottomed out at CHF0.9110.

USD/JPY – Continued its move away from likely intervention levels as an attempt to surpass ¥77.00 failed just short as the pair reached ¥76.96 high. Confirmation of stealth intervention by the BoJ of around $13.3 billion may also be helping to buoy the US dollar.

GBP/USD – Cable emulated the shift higher in the euro as it managed to cap US$1.5904 high, however markets increasingly focus on BoE policy meeting on Thursday which will likely weigh on sterling.

AUD/USD – A lack of policy action by the RBA sent the pair over 100 pips higher overnight, before it settled into range throughout London and New York as it closed near US$1.0810.

EUR/USD – Whilst a Greece deal is apparently close, the lack of anything concrete continues to restrain the euro as the pair drifted lower to US$1.3028 in a lacklustre European session. The pair did manage to retrace losses after finding support from short-covering.

USD/CHF – Broadly stronger US dollar dragged pair to CHF0.9262. Shortly after the US open a short run reduced the pair to session low of CHF0.9179.

USD/JPY – The pair managed to hold gains from Friday as it ended the day level. A quick move to ¥76.80 overnight couldn’t be sustained leaving the pair at ¥76.53.

GBP/USD – A low of US$1.5730 came early in London as Greece ramped up investor anxiety, but the pair managed to finish the day higher reaching a US$1.5841 high.

AUD/USD – The pair saw very little action throughout the day ahead of the RBA meeting overnight. It mocked moves from Europe as would be expected, moving from US$1.0684 up to US$1.0746 high during the day.

EUR/USD – US Non-farm payrolls stole all the headlines today as the data published a figure of 243,000 against expectations of 150,000. Initial reaction sent the pair higher to session peak of US$1.3203, before a sharp reversal sent the pair spiralling to US$1.3066 low. It did manage to reverse losses to close slightly higher for the day.

USD/CHF – Ripple effects from non-farm data permeated all USD crosses and resulted in a break higher to CHF0.9224.

USD/JPY – Having loitered around post-intervention lows a knee-jerk move upwards to ¥76.74 following NFP drew the pair away from intervention fears, however the pair is still in range of recent lows.

GBP/USD – An early rally to US$1.5860 reversed after NFP sent investors fleeing to dollar. A collapse to US$1.5750 did not hold however as Cable finished the day marginally higher.

AUD/USD – The pair rallied throughout the afternoon to cap US$1.0793 high as recent shift higher continues.

EUR/USD – The euro bounced around its recent range as heightened concerns over the elusive PSI deal in Greece led the pair lower to US$1.3086 after comments from Chinese Premier Wen temporarily supported the common currency. A good rally then sent the pair back higher, before selling at the London fix sealed a move lower.

USD/CHF – Mirrored moves from Europe as it reached CHF0.9207 before slipping back as the main focus remained the EUR/CHF.

USD/JPY – Again the pair tested the ¥76.00 level, but to no avail as it edged back to ¥76.20. Markets continue to be held on high alert as Finance Minister Azumi continues to try and talk down the appreciating Yen.

GBP/USD – Cable slid lower during the day to US$1.5795, but stayed within sight of its recent highs as markets awaited the heavily weighted services PMI. Persistent QE worries continue to restrain the pair.

AUD/USD – Played out the day in range posting high of US$1.0757 overnight and US$1.0679 low in the day as pair awaits non-farm payrolls data and news from Greece.

EUR/USD – The euro bounced back ferociously today from Tuesday’s losses as better-than-expected PMIs from both Germany and China fuelled risk. Weaker US data seemed to sustain rally as pair bolted from US$1.3029 to US$1.3219 high.

USD/CHF – An upswing overnight to CHF0.9250 soon collapsed as risk rally through European session sent pair plummeting to CHF0.9115.

USD/JPY – Pressure continues to mount on BoJ as they were again forced to revert to the all-too-familiar verbal intervention with an ever stronger Yen leading pair lower to fresh post-intervention lows of ¥76.03.

GBP/USD – Strong Manufacturing PMI, posting 52.1 over 50.1 expectation, helped pair higher along with broader US weakness as it rallied throughout London to hit US$1.5882 high. This did little to temper expectations of further QE.

AUD/USD – A dip overnight to US$1.0569 quickly evaporated as sharp move higher eventually sent the pair to 3-month high at US$1.0740 after risk appetite gained pace.

EUR/USD – Month-end brought with it a heavy sell-off in euro as investors dumped the single currency as it collapsed to US$1.3042. Euro zone fears continued to haunt the pair as market as risk aversion took a hold.

USD/CHF – The pair again attempted to move away from 2-month lows as a fierce rally higher saw CHF0.9228 high.

USD/JPY – The inevitable intervention rumours permeated markets today as the pair continued its slump to hit ¥76.16 low.

GBP/USD – The final day of the month capped a strong 2 weeks for Cable as it reached US$1.5796 high before consolidating to US$1.5758.

AUD/USD – Traded sideways today, after a test of highs from earlier in the week at US$1.0685 failed to hold, reversing quickly at the New York open.

EUR/USD – Uncertainty over Greece continued to militate on markets as the euro drew back from recent highs to touch US$1.3077 low. An Italian bond auction did little to boost confidence, but the pair managed to retrace some losses to finish above US$1.3100.

USD/CHF – All eyes moved back to the interventionist countries as a move lower in the EUR/CHF hovered tentatively above its CHF1.2000 peg. This pair however moved with broader US dollar recovery after recent weakness to hit CHF0.9209 high.

USD/JPY – The pair plummeted to its lowest point since the last round of intervention as it hit ¥76.21. Although any talk of intervention has been shunned above ¥76.00, Azumi, the finance minister, reiterated their commitment to ‘decisive action’ if necessary.

GBP/USD – Largely followed moves in the euro as it found resistance near US$1.5657 lows, finishing the day roughly where it started around US$1.5700.

AUD/USD – Consistent with other riskier currencies, the pair slid overnight and into early London as it posted US$1.0528 lows, before recouping some of its losses.

EUR/USD – Weaker-than-expected GDP figures from the U.S. initially led the pair lower following early gains. Expectations of a resolution to the Greek PSI deal over the weekend sent the pair higher to US$1.3234.

USD/CHF – A day that saw a broadly softer dollar resulted in further downward pressure on pair as it tumbled to a CHF0.9111 low late in the day.

USD/JPY – Pair continued its sharp downturn from Wednesdays high as a number of sellers sent it lower to ¥76.64 as dollar saw broad weakness.

AUD/USD – Couldn’t take advantage of dollar weakness as it made slim gains for the day. Early US$1.0670 high reversed following U.S. GDP data which sank pair to US$1.0597 session low.

GBP/USD – Early gains were given back at the U.S. session open as the pair plummeted quickly to US$1.5641 low, rebounding almost immediately before improved sentiment surrounding Greece helped support the pair on its way to US$1.5740.

EUR/USD – A relatively quiet day on the news front saw rumours about a fresh Greek deal push the pair to US$1.3177. The gains however could not be held and the pair slipped back to its overnight level around US$1.3105.

USD/CHF – A classic mirror of the EUR movements today, initially sinking to a near 2 month low, before retracing losses to close near CHF0.9205.

USD/JPY – Following its recent move higher, the pair continued to give back gains from yesterday afternoon, reaching ¥77.29 session low.

GBP/USD – The worsening outlook for the UK did not halt its continued move higher as broader weakness in the USD elevated Cable to a 5-week high at US$1.5736, before it reversed some of its gains to finish  near US$1.5688

AUD/USD – Moved higher with a bundle of riskier currencies to cap US$1.0686 high shortly after the London open.

EUR/USD – A dramatic day for the pair started with more Greek woes as fears the country would impinge on the bond buying ability of the ECB sent it lower to US$1.2931. A German Ifo report went seemingly unnoticed before late in the day the Federal Reserve announced it would keep rates near zero until late in 2014, later than expected. This sparked a fierce return to risk and the pair hit US$1.3120 high.

USD/CHF – Risk-off morning led the pair to CHF0.9340 high which did not last long as risk took over and the pair collapsed to 6 week lows, bottoming out at CHF0.9204.

USD/JPY – A rare trade deficit for Japan, not seen in over 3 decades, weakened the Yen as the pair moved higher to reach ¥78.28. Gains were pared however and the pair ended up a touch lower on the day at ¥77.75.

GBP/USD – Sterling weakness was initially contributed to 0.2% contraction in the economy and underlying concerns over fresh QE. Having hit US$1.5531 low in early London, a choppy day was highlighted by a sharp move higher to US$1.5678, a reflection of broader USD weakness.

AUD/USD – A risk-off, risk-on day ultimately left the pair higher after a 140 pip rally sent it to US$1.0619.

EUR/USD – Good Services PMI out of Europe set off what proved to be a choppy session for the pair as it capped US$1.3063 high in early London trading. The lack of a Greek deal tempered risk and the pair stooped to US$1.2954, before clawing back to where it started the day.

USD/CHF – The pair ended the day almost exactly where it started at around CHF0.9278 after following moves in Europe.

USD/JPY – The BoJ left its policy unchanged meeting expectations and did little to move the pair. However, demand for EUR/JPY dragged the pair to highest in 2012 at ¥77.85.

AUD/USD – The pair came away from its 2012 high set yesterday, edging back to a US$1.0428 session low.

EUR/USD – Cautious optimism permeated markets today as expectations of a nearing Greek deal buoyed sentiment. This launched the pair back above US$1.3000 where it managed to hold until close.

USD/CHF – Continued downwards after Friday’s mild recovery as broader dollar weakness pressured the pair to fresh 2012 low of CHF0.9253.

USD/JPY – Moved in tight range today finishing roughly where it started around the ¥77.00 mark ahead of BoJ policy meeting. 

GBP/USD – After initially ambling to US$1.5517 session low, Cable picked up where it left off on Friday as it followed a broader move upwards against the dollar. It struggled to fully capitalise on the wider move as concerns about the UK outlook continued to hamper the pound.

AUD/USD – The pair touched a session high of US$1.0573 on broader dollar weakness, giving back some of its gains later in the day to close near US$1.0532

EUR/USD – An inevitable round of short-covering sent the pair lower to US$1.2887. Markets seem to be optimistic ahead of further Greek negotiations, but are still wary of a debt crisis backlash.

USD/CHF – A long slide downwards finally came to an end as pair rallied to CHF0.9370 high, finishing the day slightly lower at CHF0.9342.

USD/JPY – The pair neared the previous day’s high of ¥77.32, before ending the week with a dip lower, back below the ¥77.00 level.

GBP/USD – Cable capped a strong week of gains with a rally up to a 2 week high of US$1.5574. Retail sales couldn’t further aid the pair as concerns about QE remain in the spotlight.

AUD/USD – Having struggled early on as a result of a poor Chinese manufacturing PMI figure of 48.8. Risk appetite soon returned however as it marched upwards to US$1.0488

EUR/USD – Spurred by a strong Spanish debt auction, the pair continued upwards with markets given a small bout of optimism. Made gains from early London trading and found support into New York session reaching US$1.2971 high.

USD/CHF – Very quiet day for the pair as it followed Europe with broader risk appetite leading the pair to CHF0.9317.

USD/JPY – The Yen saw its second most volatile week of the year so far, as good demand dragged the pair to ¥77.32 high, away from its recent lows. 

GBP/USD – A poor Consumer confidence figure of 38 hampered gains, although did not stop testing US$1.5500. It failed to break this level capping gains at US$1.5492.

AUD/USD – In a risk-on day, the pair unusually saw limited gains. Soft employment data did not help as it managed US$1.0434 high, before closing lower.

EUR/USD – The euro tested US$1.2800 early on, but saw a sell-off as comments from a director at Fitch suggested Italy could be lowered by two notches. Speculation about a $600 billion increase to IMF’s funding ability bolstered risk appetite and pair reached a US$1.2868 high.

USD/CHF – After shifting lower in early London trading, an error by a trader on EUR/CHF sparked fear of intervention which jilted the pair upwards. Once confirmed as an error the pair continued its shift downwards to CHF0.9383 low.

USD/JPY – The pair provided another lacklustre day sticking to its recent range as it reached ¥76.65 low before turning round to retrace losses.

GBP/USD – Cable tracked the euro higher after a news report said the IMF were looking at ways to increase its lending facility to $1 trillion, with the pair capping gains at US$1.5442.

AUD/USD – The pair produced a choppy range bound session, finishing slightly higher on the day at US$1.0436

EUR/USD – Overnight, strong growth data from China aided risk which led the pair higher. Results from the German economic sentiment survey further fuelled risk appetite leading to session high of US$1.2808. Fitch came out with more negative comments, this time about the likelihood of a Greece default, which sent the pair down to US$1.2711 low.

USD/CHF – Pair forced down to CHF0.9448 before U.S. open, however sentiment quickly diluted and it rallied higher to finish the day around CHF0.9493.

USD/JPY – Whilst sticking in ¥76.55-¥76.84 range, pair saw increased demand with more volatile swings than normal seen early in the day. Still looking to edge downwards as USD strength becomes wavers.

GBP/USD – Cable saw short-squeeze up to US$1.5404, but fears surrounding Greece’s tenuous debt position saw gains pared and it finished near US$1.5330.

AUD/USD – Tracked moves seen in Europe as it raced to a US$1.0449 high after London open, but slipped to US$1.0354 later in the day.

EUR/USD – Following Friday’s downgrades by S&P the markets finally had a chance to react and it was safe to say this reaction was muted. With the news already priced in the pair floated near recent lows failing to test US$1.2700 as it reached US$1.2688 high. The S&P did however downgrade the EFSF to AA+.

USD/CHF – Pair reached CHF0.9567, but traded sideways for the majority of the day. With EUR/CHF hovering precariously above the CHF1.2000 peg, markets will continue to watch closely for any slip below.

USD/JPY – Dipped slightly lower through the day, before finding support at ¥76.70.

GBP/USD – After confidence was again rattled on Friday, the pair traded almost horizontally as investors re-assess the weakening conditions. The pair did touch US$1.5282 before ending the day roughly 40 pips higher.

AUD/USD – Slipped overnight but moved higher during the day eventually capping gains at US$1.0337.

EUR/USD – The pair took a pummelling today as heightened talk of a mass downgrade and stuttering Greece debt swap discussions rattled sentiment. Having held above US$1.2800 overnight, pair shed around 250 pips leaving it at US$1.2624 low. Once the U.S. markets closed, the downgrades came as France and Austria were stripped of their AAA statuses by S&P.

USD/CHF – Inversely mirrored moves in the euro, hitting CHF0.9575 high. Nothing new to report from SNB as EUR/CHF hovered above CHF1.2000.

USD/JPY – Broader USD bid tone sent pair higher during the day, as a brief spike to ¥77.06 didn’t hold.

GBP/USD – As has been the recent trend, nervous investors piled back into the perceived safety of the dollar with downgrades imminent. An initial move up to US$1.5409 was quickly pared as pair collapsed to US$1.5234.

AUD/USD – Followed moves from Europe touching US$1.0367 high, before sharp reversal down to US$1.0233. Did manage to find some good support prior to the downgrade news, but ended the day lower.

EUR/USD – Lower Spanish yields at a number of auctions yesterday initially spurred demand, before comments from ECB president Draghi settled some tentative nerves. The pair raced up to a US$1.2845 high, consolidating just above US$1.2800 at the close of play.

USD/CHF – Continued pressure on the SNB following the departure of Hildebrand was not aided by a return to risk which sent the pair back down to CHF0.9412.

USD/JPY – In absolute terms, the Yen finally saw some action as broader USD weakness sent the pair crashing to a 1-week low at ¥76.67 after it posted a ¥76.98 high.

GBP/USD – The BoE chose to keep rates the same and hold their asset purchase program, although this is expected to increase in February. The outlook for the UK economy dampened with weak industrial data, however Cable managed to climb to US$1.5367 high.

AUD/USD – Very choppy session ultimately left the pair slightly higher as it failed to hold on to US$1.0377 high.

EUR/USD – Comments from Fitch heaping pressure on the ECB to provide more support aggravated already nervous markets as the pair reignited its recent decline. It dropped to US$1.2662, languishing at 16-month lows.

USD/CHF – After dipping to CHF0.9483, the pair reversed and moved broadly higher to CHF0.9568 and managed to hold on to the majority of these gains after spurious rumours circulated markets.

USD/JPY – The day was earmarked by its recognised tight range as the pair finished the day on par after earlier high of ¥77.04.

GBP/USD – Stark comments by Fitch led to risk aversion as fears continue to mount, which left the pair ailing at US$1.5309 as it tracked the euro’s demise.

AUD/USD – The sharp euro sell-off had less impact than expected on the pair as it endured a rollercoaster day. Early gains were quickly given back as it posted a US$1.0263 low before it rallied to close in on earlier highs at US$1.0317.

EUR/USD – Caution reigned ahead of crucial bond auctions for Italy and Spain. The pair found support from short covering on its way to US$1.2818, but amongst other things, murmurs of a second Irish bailout reversed gains.

USD/CHF – The confirmation of the anticipated resignation by Hildebrand didn’t move markets as the pair ranged between CHF0.9511 high and CHF0.9466 low.

USD/JPY – The pair was stable in 12 point range, closing near 76.83 for the day.

GBP/USD – Little real action for this pair as any moves were driven mainly on broader U.S. weakness. Cable tested US$1.5500, but failed to hold, ending the day with slim gains.

AUD/USD – Shifted up a gear as the pair rallied to US$1.0351. However, the move quickly ran out of steam as it slid lower to US$1.0305.

EUR/USD – Overnight the pair rebounded from a 16-month low at US$1.2666 as a short squeeze sent the pair higher, reaching US$1.2786 during the day. A meeting between Merkel and Sarkozy produced precious little in the way of progress as sovereign yields remained firmly under scrutiny.

USD/CHF – Following days of speculation, Hildebrand finally resigned from his position of president of the SNB. This didn’t affect the pair as it slid to CHF0.9490 low.

USD/JPY – No change in this pair as it meandered sideways around the ¥76.85 mark.

GBP/USD – A quiet day for this pair as markets nervously wait for important bond auctions later in the week. Cable edged higher reaching US$1.5470 high.

AUD/USD – Trundled higher during the day on its way to a US$1.0258 high as a technical boost helped markets.

EUR/USD – Surprise NFP data showing a brighter start to 2012 for the U.S. economy left the common currency paying the price. The usual move to risk following the positive data faltered as the pair dropped to US$1.2697 low as investors shunned the endangered euro.

USD/CHF – The pair edged lower to CHF0.9506 early on, but pared losses on the back of better-than-expected NFP data as it capped CHF0.9578.

USD/JPY – A brief spike higher came to little as the pair slipped back below ¥77.00.

GBP/USD – Modest U.K. housing data could not save Cable as strong NFP data sent the pair spiralling down to languish at US$1.5375. As the U.S. economy begins to stir, the U.K. remains dormant and investors need little encouragement to head the dollar.

AUD/USD – Another choppy session for the pair ultimately left it marginally lower at US$1.0227.

EUR/USD – Markets rebounded today after their recent misery as yields subsided in a Spanish bond auction and strong economic data from the U.S. and Germany revitalised risk demand. The pair bolted up to US$1.3131, but with sentiment still brittle, it failed to hold, retracing back to around US$1.3079.

USD/CHF – Positive news from Europe shifted demand away from US dollar and pair continued its decline to hit CHF0.9270 low. It eventually recovered to CHF0.9318, but it will be a testing time for SNB following their last policy meeting.

USD/JPY – Whilst the BoJ raised its intervention treasure chest to roughly ¥70 trillion, the pair continued ranging as it touched ¥77.72 low.

GBP/USD – Continued to be a function of EUR as it shifted upwards to hit US$1.5700 high. While thin liquidity continues to exacerbate moves, pair still seeing heavy downside risk considering on-going European debt saga.

AUD/USD – RBA lowering rates by 25bp to 4.25% and general risk-on day forced pair back through parity to reach US$1.0094.

EUR/USD – A lack of political certainty resulting from the death of Kim Jong-Il sent pair lower in early trading, before concerns dissipated. Downgrade fear continues to lead investors to sell into rallies which saw pair sink from US$1.3043 high to US$1.2989.

USD/CHF – Pair continues to follow EUR/CHF following lack of SNB action. Reached CHF0.9397, but slipped back to touch CHF0.9348 low.

USD/JPY – Broad US strength from the death of North Korea’s leader shunted pair up to ¥78.16. Subsequently retracing these gains it moved sideways, ending narrowly above ¥78.00.

GBP/USD – In early trading it followed all USD crosses lower, before good demand led the pair to reach US$1.5545 high. This was not sustained though as it fell back below US$1.5500.

AUD/USD – A run up to US$0.9969 was halted, before the pair dropped away 80 pips to reach US$0.9885 low.

EUR/USD – In the wake of the EU summit, which again failed to resolve the debt threat, investor sentiment waned and the pair plummeted to US$1.3163. Fears of a mass downgrade were reignited as EU leaders failed to produce a solution at last week’s meeting.

USD/CHF – Investors swarmed back to the safety of the US dollar today as pair rallied strongly throughout the London and New York sessions touching CHF0.9387 high.

USD/JPY – Pair failed in an attempt to transcend the ¥78.00 barrier as it moved upwards to within touching distance of the figure. Pair ended day residing around ¥77.92.

GBP/USD – Hampered by a lacklustre EU summit, investors moved to protect themselves as demand for US dollar increases. Result of this sees pair move below US$1.5600.

AUD/USD – Heavy risk-averse day left pair challenging previous day’s low at around US$1.0058.

EUR/USD – A report from Reuters suggesting a Chinese foreign exchange vehicle of $300bn buoyed pair after agreements on fiscal consolidation in from EU leaders failed to move pair. After reaching US$1.3433, the pair faltered on lack of progress at the summit and ended the week near US$1.3380.

USD/JPY – After relatively aggressive moves on Thursday, the pair moved back into range, trading between ¥77.50-¥77.78.

GBP/USD – Pair touched $1.5735 peak on speculation of an investment vehicle created by China, but quickly gave back gains as profit-taking ahead of week end ensued. Record-breaking trade deficit reduction did little to alter gloomy forecasts in UK.

AUD/USD – After breaking down to 10-day low of US$1.0048, strong recovery left the pair at US$1.0224 going into the weekend.

EUR/USD – Although the ECBs Draghi lowered rates by 25bp, this was not seen as sufficient by markets as he shunned the idea of further ECB bond-buying. This again rattled market expectations of a crisis resolution and sent the pair hurtling down to US$1.3293.

USD/CHF – Pair followed moves from Europe as an initial US dollar sell-off quickly reversed as optimism for the EU summit quickly faded which left the pair higher at around CHF0.9260 after briefly touching CHF0.9283.

USD/JPY – Finally the pair saw some action today after investors moved to the yen early on, before sentiment soured and demand poured back into the safe haven dollar which moved the pair from  ¥77.15 back above  ¥77.70.

AUD/USD – All attentions were inevitably focused on Brussels today, with an early rally up to US1.0370 quashed dramatically as the pair eventually posted low of US$1.0148.

EUR/USD – Pessimistic murmurs from an anonymous German official tripped the pair up to hit US$1.3353 low. In the New York session the pair erased these losses on renewed market confidence that a solution will be agreed. Pair ended back above US$1.3400.

USD/CHF – Movements in pair driven by differing expectations in anticipation of the EU meeting. Pair touched CHF0.9228 low, subsequently rallying to CHF0.9286, eventually settling close to earlier low.

USD/JPY – Pair traded sideways again between ¥77.63 and ¥77.78 with no fresh news.

GBP/USD – More weak production data affirms torrid outlook for UK economy, although this failed to impede the pair reaching high of US$1.5723 on optimism surrounding the EU summit.

AUD/USD – Pleasing quarterly GDP results helped to support the pair as it moved higher today, closing in on US$1.0300.

EUR/USD – Strong manufacturing data from Germany, which supported pair to US$1.3427 high, failed to overcome concerns raised by S&Ps Eurozone outlook which hampered sentiment and guided pair lower.

USD/CHF – Concerns of indirect intervention from the BIS caused pair to rally to CHF0.9296, before they and the SNB denied this. Pair retraced to where it started the day, but eventually moved back higher on US dollar demand.

GBP/USD – The pair joined in on the EUR rally reaching US$1.5640. The comparison then ended as it found support following the autumn statement. Whilst the outcome was far from positive, sterling’s status as a safe haven within Europe helped the pair consolidate earlier gains.

USD/CHF – Hope in Europe for a tangible plan ahead of the European Summit saw the pair plummet in London open to bottom out at CHF0.9176.

USD/CHF – Comments from the SNB regarding its intentions to raise the EUR/CHF ceiling impacted the pair which saw it reach high of CHF0.9330.

USD/JPY – Whilst both currencies safe haven appeal continued to strengthen, the US dollar proved the stronger as concerns in Europe escalated. Buoyed by comments from the BoJ finance minister, the pair reached ¥77.79.

EUR/USD – Overnight the pair made steady gains before a stronger-than-expected Ifo report out of Germany propped up markets to US$1.3411. This, however, failed to overturn sentiment as again Merkel reiterated her formidable opposition to Eurobonds and ECB intervention. The resulting breakdown in mediation drove pair down to US$1.3316.

GBP/USD – Difference of opinions between Europe’s leaders caused a stir as market negativity persisted. Exacerbated by holiday liquidity the pair added to recent losses abating below US$1.5500.

EUR/USD – A disappointing Bund auction augmented by soft economic data throughout the US, Europe and China inevitably led to risk aversion. With Germany’s safe haven status rocked and Merkel’s stubbornness over Euro resolution strategies the pair collapsed to US$1.3320.

EUR/USD – FOMC meeting minutes brought nothing new to the table and a continued lack of feasible solutions to the debt crisis kept investors nervous. While the IMF announced the Precautionary and Liquidity Line this failed to reverse sentiment and a tight range saw pair end the day around US$1.3511.

USD/JPY – Misinterpreted comments from Japan’s finance minister caused short squeeze for pair as it momentarily hit ¥77.35. After shedding these gains it settled back into a tight range near ¥77.00.

AUD/USD – A choppy day saw pair no better or worse off than it started as markets seem hesitant to act with no fresh news regarding a resolution to the debt crisis.

USD/JPY – No surprises overnight for this pair as throughout the day it traded marginally upwards with high of ¥76.99.

AUD/USD – Suffered heavily, posting low of US$0.9809, as the slide continues for the pair as US safe haven momentum increases.

USD/JPY – Pair stooped to fresh intervention lows of ¥76.57 on renewed demand for the yen. A strong rally throughout the afternoon saw the pair touch ¥77.00 briefly before consolidating these gains.

GBP/USD – Similar to the EUR, the pair rose quickly to high of US$1.5888, before risk aversion set in and the markets eased off for the weekend.

AUD/USD – The pair fell from US$1.0107 high back towards US$1.0000 as continued to mock movements from European currencies.

EUR/USD – This pair continues to remain extremely volatile as the debt crisis marches on. Headlines from Fitch and Moody’s yesterday left pair languishing, but diminishing bond yields from record highs and the announcement of sweeping reforms from Italy led pair to high of US$1.3539. A poor Spanish bond auction drove pair back down to around US$1.3462.

USD/CHF – Reached 5-week high of CHF0.9236, before sell-off saw pair fall back to CHF0.9153. Since then it has seen a retracement back towards earlier high.

GBP/USD – Better-than-expected UK retail sales data saw the pair rally strongly to peak at US$1.5813. On the whole though, the outlook remains formidable as UK posted records lows of consumer confidence in October, which reflects the prevailing sentiment.

EUR/USD – Purchases of Italian and Spanish bonds by the ECB brought hasty respite to markets today, before fears of contagion continued to escalate with widening sovereign spreads proliferating other core economies. Along with Italy and Spain, bond yields all rose for France, Belgium and Austria which saw the pair drop to US$1.3462.

USD/CHF – Pair continued drive upwards as flight to safer assets continues and reached a high of CHF0.9223 today.

USD/JPY – The BoJ kept policy unchanged regarding its asset-purchase fund and this reflected on the pair as it continued to move sideways around ¥77.00.

GBP/USD – Cable continued its slide as BoE outcome looked increasingly towards adding to the asset purchasing programme reaching US$1.5738 low.

AUD/USD – After the pair pushed up to US$1.0183 high, continued weakness in Europe led it down back below US$1.0100.

EUR/USD – Pressure on peripheral spreads, most notably rising Spanish and Italian bond yields coupled with UniCredit, Italy’s biggest bank, announcing an unexpected €10.6 billion 3Q loss led to further downside tension for pair. Concerns over France today, as a result of their exposure to Italy’s public debt, saw pair fall below US$1.3500.

USD/CHF – As the SNB continued to attempt to talk the CHF weaker, the pair continued to rally to reach high of CHF0.9197 today.

USD/JPY – After reaching fresh post intervention lows yesterday, an abrupt move up to ¥77.50 sparked rumour that BoJ had possibly intervened. The pair only briefly sustained this level, before falling back to range movement around ¥77.00 mark.

GBP/USD – Figures for the UK economy continue to raise concerns over the interconnectedness between the UK and Europe as growth and inflation forecasts were revised downwards again as the pair touched low of US$1.5800 today. Ahead of Wednesdays inflation report, expectations amongst markets were of a dovish outcome.

EUR/USD – Political clarity from Italy over the weekend, with Monti heading a new technocratic government, failed to divert attention away for the underlying issues. After Italian bond yields dropped significantly over the weekend, the pair opened up stronger before a poor Italian bond auction caused 10 year yields to increase, heaping the pressure back onto the market. The EUR/USD fell to lows of $US1.3594.

USD/CHF – As conditions in Europe worsened, this re-affirmed recent US strength and the possibility of the SNB defending the EUR floor lead the pair to rise from weekend low of CHF0.8955 to touch back above CHF0.9000.

GBP/USD – After consolidating large gains on Friday, the pair suffered a complete retracement of these gains as the Eurozone crises quashed labour demand, further adding to pressure on the UK economy.

AUD/USD – This pair met a similar fate to most other cross-USD pairs today. After a promising weekend, investors fled back to the USD after last week’s concerns were revisited and the pair stumbled to lows of US$1.01636.

EUR/USD – On Friday risk sentiment improved as a successful auction for Italian bonds saw yields begin to subside and the appointment of Papdemos helped to steady the markets after another turbulent week. At one stage a technical error courtesy of S&P suggesting a French downgrade spooked investors, but pair retraced most of Wednesdays losses, moving back to close just under US$1.8000.

EUR/USD – Pair encountered heavy losses yesterday as an increasing margin call announcement from the LCH led to Italian bond yields reaching nearly 7.5%. This instigated a mass exodus which left the pair languishing below US$1.3500 at one stage. Today, retreating yields and conformation of new Greek leader helped appease markets somewhat as prices recovered to high of US$1.3650.

EUR/USD – Following snap market action from the confirmation of Berlusconi’s resignation, pair fell into tight range yesterday which continued overnight. As markets grew nervous over Italian borrowing costs, the pair collapsed below US$1.3600 as yields on Italian 2 and 10 year bonds reached over 7%.

USD/CHF – Consistent with the rest of the market, trading was confined to a tight range for much of yesterday and overnight, before Eurozone worries extended through Italy supporting the USD. Pair breached CHF0.9000 heading upwards towards CHF0.9100.

USD/JPY – Pair continued to undo work of BoJ overnight as hit lows of ¥77.55 with shades of previous intervention attempts. Signs of a slight recovery today though as it moved back upwards to ¥77.75 area.

GBP/USD – A high yesterday of US$1.6130 was ultimately followed with little action overnight. Conforming with other cross-USD pairs, fell sharply today with worsening Eurozone conditions and worse-than-expected trade balance figures.

USD/CHF – An action warning from the SNB yesterday supported the pair to see an overnight high of CHF0.9065. Today saw retracement of all yesterday’s gains as rate fell back to CHF0.8923 low.

GBP/USD – Further pseudo-EURUSD price action and limited interest led pair to 40 pip overnight range. Since then has moved upwards above US$1.6100 level.

AUD/USD – Pair stuttered but eventually fell to US$1.0283 on the back of poor trade data overnight. During today, a strong recovery saw pair head back above US$1.03700.

USD/JPY – BoJ intervention continues to deflect interest away from pair as nerves remain regarding possibility of further intervention. Pair maintains ¥78.00 level as it becomes increasingly range-bound.

GBP/USD – Cable continues to take a back-seat as it mimics EUR/USD. Pair rallied from low of US$1.5946 to finish last week at US$1.6031. Pair fell to US$1.5980 in early London trading, but has since recovered well above US$1.6000.

AUD/USD – The focus remained very much on the situation in Greece on Friday and EUR frailty continues to weigh down on the pair. After falling from US$1.0426 down to US$1.02770 earlier today, pair has since recovered some losses.

USD/JPY – Another subdued day for pair as it continued tight range between ¥77.90 and ¥78.10 with little else to report.