EUR/USD Hits 10-Day High

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EUR/USD Hits 10-Day High

Post  Bobbyfx on Sat Jun 09, 2012 8:06 am

The euro hit a ten-day high against the US dollar during trading yesterday, following a positive Spanish bond auction which led to an increase in risk taking. By the end of European trading, the EUR/USD rose as high as 1.2609, an increase of close to 70 pips for the day. As markets get ready to close for the week, traders will want to pay attention to several indicators that could lead to volatility. The British PPI Input figure, set to be released at 8:30 GMT, could help the pound extend its recent bullish movement against the USD if it comes in above the forecasted -1.2%. Later in the day, the US Trade Balance figure could potentially lead to additional losses for the greenback if it comes in below expectations.

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