EUR/USD (a 4-hour chart)
Yesterday foreign exchange market was marked by the growth of the dollar. The U.S. currency is seriously strengthened against the pound and the yen. Moreover, investors ignored he Japanese currency positive macroeconomic statistics, and were actively selling the yen in the European and U.S. session.
In the euro/dollar was traded within the price range 1.3735-1.3810. There was no fundamental prerequisites for the dollar growth yesterday. We got the negative statistics from the States, yet the dollar strengthened against its major counterparts.
Euro jumped after the intervention of the ECB Nowotny, but then it fell sharply. Nowotny said that there were signs of recovery in the euro zone - and the ECB is unlikely to lower interest rates even further. Negative rate on deposits - an unrealistic prospect. Although the euro does not cause joy at the central bank - it does not require any type of reaction on his part. He added, however, that monetary policy should remain soft.
The pound fell as well, ignoring data on the growth of mortgage approvals in the UK up to a maximum of February 2008. The number of approved applications for mortgage loans increased in September to 66.7 thousand, versus 63.4 million in October. At the same time, the data on consumer credit came out worse than everyone expected.