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The US dollar gained against the majors in London trading as the Euro was sold on worries that Ireland will refuse the EU's new governing
The US dollar gained against the majors in London trading as the Euro was sold on worries that Ireland will refuse the EU's new governing accord, which is poised to bring the 27 nations politically closer. EUR/USD opened the session trading near 1.5437 and would close more than 100 pips lower near 1.5328.
 


Today's Market Update

Published: June 13, 2008 7:54 AM
The US dollar gained against the majors in London trading as the Euro was sold on worries that will refuse the EU's new governing accord, which is poised to bring the 27 nations politically closer.  EUR/USD opened the session trading near 1.5437 and would close more than 100 pips lower near 1.5328.

 

Broad US dollar strength and higher bond yields helped propel USD/JPY in the London session as well.  US 2-year yields rose another 3 bps (after surging more than 20 bps yesterday) to 3.06% while the 10-year added 3 bps as well to 4.24%.  This boosted USD/JPY which opened near 107.81 and closed around the session high near the 108.30 mark.

 

Look for some price action in the Greenback this morning as US May consumer price data is released at 8:30ET.  The market is looking for an increase of 0.5% for total and 0.2% for the core number (excludes food and energy) -- anything below consensus could give the market pause about inflationary pressures in the and lead to some selling of USD.

 

Upcoming Economic Data Releases (NY Session)          Prior     Forecast

 

6/13 12:30 GMT US Consumer Price Index MAY                0.2%         0.5%

 

6/13 14:00 GMT U. of Michigan Confidence JUN P         59.8          59.0

 

6/13 16:00 GMT GE ECB's Weber Speaking in Bielefeld, ,




 




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