Jan14

FOREX-Euro short-squeeze rally on hold; eyes on debt auction, data

Posted in Main category

TOKYO, Jan 4 (Reuters) – A small-squeeze revive in the euro stalled in Asia on Wednesday ahead of debt auctions in Germany, with market players dubious about the euro zone’s plans to fend off a independent debt crisis as some countries face huge debt refinancing needs.

The euro is meeting resistance after posting its largest one-day revive in nearly two months on Tuesday as investors heavily trimmed bearish positions in the common currency after upbeat data bolstered risk appetite. Click here to read more.. »

Share
Jan14

FOREX-Euro supported by short squeeze; debt auctions eyed

Posted in Main category

SYDNEY, Jan 4 (Reuters) – The euro held on to overnight gains in Asia on Wednesday, having posted its largest one-day revive in nearly two months as investors cut bearish positions in the common currency after upbeat data bolstered risk appetite.

The euro gained as much as 0.9 percent to reach its peak in a week at $1.3076 in the wake of better-than-expected U.S. manufacturing report on Tuesday. It last stood at $1.3048, well off a 15-month trough around $1.2858 plumbed last week. Click here to read more.. »

Share