Forex Analysis for September 10, 2009

Yesterday the situation on the Forex market didn’t really change. But there were some remarkable event, which might be found very interesting. EUR/USD broke the year’s maximum and reached 1.4599, at the same time USD/CHF fell down to 1.0383, which is this years minimum. Such fall down of the dollar is mainly caused by the growth of American stock indices. Speaking about GBP/USD it can be admitted, that the day was ended at 1.6540, which also showed the weakness of bucks at those moment. USD/JPY was also to fall down and set the year’s minimum – 91.58. Then dollar pushed the pair back to 92.00, but that didn’t change the situation greatly.

Really, such behavour of the USD isn’t a big surprise, because both investors and fundamental news are continuing suppression of the American currency. In this situation the decision of the Central banks about their loan policy and interest rates is very important. So, today the price rages for currency pairs, mentioned above, are expected to be the following: GBP/USD – 1.64 – 1.665, EUR/USD – 1.445 – 1.465, USD/JPY – 91.0 – 92.3 and finally USD/CHF will remain between 1.035 – 1.050.

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