Forex: EUR/JPY retracing ground to 125.50

The momentum circling the single currency is fading away on Wednesday, dragging the pair from highs in the proximities of 126.50 to the current area of 125.60
A weaker yen, actually trading around 93.50/60 against the greenback, is also collaborating in this correction lower of EUR/JPY.

At the moment, the pair is down 0.11% at 1.3439 with the next support at 124.75 (low Feb.13) ahead of 124.00 (psychological level) and then 123.52 (low Feb.11).
On the upside, a break above 126.94 (high Feb.12) would bring 127.00 (psychological level) and then 127.48 (high Feb.7).

Feb 13, 2013

Forex Flash: President Obama outlines goals for second term – Deutsche Bank

In the United States, President Obama's State of the Union speech laid out his agenda for his second term, with plenty of focus on "reigniting" the economy, reforming the tax code, reviving the middleclass and also gun control. The president called for raising the minimum wage to $9 from $7.25 and also urged Congress to approve a $50 billion "Fix It First" program of infrastructure improvements.

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Feb 13, 2013

Forex Flash: SEK is today´s strongest G10 currency – Wells Fargo

Nick Bennenbroek of Wells Fargo notes that the Swedish krona is today’s strongest G10 currency, with a again of more than 1% against the greenback.

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