An advance made by the risk currencies overnight - Forex News by FX Leaders

An advance made by the risk currencies overnight

Posted Thursday, July 21, 2016 by
Skerdian Meta • 1 min read

The risk currencies have been on the back foot this week. Better I say, the US Dollar has been in charge because the Japanese yen has declined as well. The market sentiment hasn´t exactly been on risk aversion because if that was the case the Japanese Yen would benefit from it, since it is a safe haven currency. The Swiss Franc is also a safe haven and it hasn´t seen a great demand either, apart from a couple of hours yesterday afternoon which went in favour of our sell EUR/CHF forex signal.

Anyway, the risk currencies have gained considerably against the USD overnight. EUR/USD got close to 1.1050 from 1.0980, AUD/USD has gained about 50 pips, USD/CAD is down despite falling oil prices and GBP/USD in particular, is about 200 pips from the lows yesterday. This morning even the Yen has taken advantage of this USD weakness and has fallen back below 106.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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