EUR/USD reversed almost fully its previous weekly earnings today. It fell from 1.5642 to 1.5419 thats more than 1.4% in a single day. The euro, being fundamentally overbought, was doomed to a correction. But such a fast drop can mean something more than a short-term correction wave. Though the fundamental data that came out today in U.S. wasnt very good for dollar. Initial jobless claims last week […]
Read moreThe Chinese yuan rose to the highest rate against the U.S. dollar since the end of the yuans peg to dollar in 2005 as the government is believed to start fighting the domestic inflation rate more devotedly. Yuan has already gained more than 3.4% since the beginning of the year, and, according to the yesterdays report by the Peoples Bank of China, the dollar is expected to depreciate further during the first […]
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