11 Feb 2015
Session Recap: USD strengthens as investors await Eurogroup meeting outcome
FXStreet (Córdoba) - The session passed without major incidents as markets await the outcome of the Eurogroup meeting where FinMin were scheduled to discuss Greek debt situation.
The dollar was among the best performers after staging a sharp rally versus the yen at the beginning of the New York trade. USD/JPY reached a 5-week high of 120.43 before settling right below.
As for EUR/USD, the pair edged a tad lower but remained well within its recent range, with investors’ attention being absorbed by the Eurogroup meeting. On Thursday, EU leaders are also due to meet on Greece's debt situation.
GBP/USD failed to break above 1.5300 and came under pressure, although it managed to stabilize in the lower 1.52’s zone for most of the session.
The Canadian dollar underperformed once again tracking oil losses. USD/CAD climbed sharply but stalled a few pips shy of 1.2700 as oil briefly dropped below $49 a barrel before bouncing back above $50/bbl.
Elsewhere, stocks closed little changed in Wall Street while US 10-yr yield rose above 2.0%. Gold also fell on the back of a stronger dollar hitting 1-month lows sub $1,220 an ounce.
Main Headlines in America:
Gold drops below $1,220
Is the Greece standoff going to be resolved? - BBH
WTI treading water below $50.00/bbl
EUR/USD marking time around 1.1300
Greece-Euro-group drafting conclusions, to be presented shortly
The dollar was among the best performers after staging a sharp rally versus the yen at the beginning of the New York trade. USD/JPY reached a 5-week high of 120.43 before settling right below.
As for EUR/USD, the pair edged a tad lower but remained well within its recent range, with investors’ attention being absorbed by the Eurogroup meeting. On Thursday, EU leaders are also due to meet on Greece's debt situation.
GBP/USD failed to break above 1.5300 and came under pressure, although it managed to stabilize in the lower 1.52’s zone for most of the session.
The Canadian dollar underperformed once again tracking oil losses. USD/CAD climbed sharply but stalled a few pips shy of 1.2700 as oil briefly dropped below $49 a barrel before bouncing back above $50/bbl.
Elsewhere, stocks closed little changed in Wall Street while US 10-yr yield rose above 2.0%. Gold also fell on the back of a stronger dollar hitting 1-month lows sub $1,220 an ounce.
Main Headlines in America:
Gold drops below $1,220
Is the Greece standoff going to be resolved? - BBH
WTI treading water below $50.00/bbl
EUR/USD marking time around 1.1300
Greece-Euro-group drafting conclusions, to be presented shortly