The British Pound halted the three-day decline and is the best performing currency against the U.S. dollar on Thursday, while the New Zealand dollar extended the decline following the RBNZ interest rate decision, with the exchange rate slipping to a low of 0.6964.
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(Repeats to insert space after 'budged' in paragraph 1)
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The USD/JPY continues to consolidate gains following the post NFP rally which has generated an ideal scalping environment. A concentration of technical levels has helped limit breakout potential. A lack of conviction from traders has seen similar price action across most risky assets.
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Interested in building your own SSI-based strategy? Request SSI data on our forex forum.
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An A-B-C correction may be complete in the NZDUSD (as a flat) from 6804. Favor the downside against 7107. 7020/50 is potential resistance.
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TEL AVIV, March 11 (Reuters) - The Bank of Israel intervened in the foreign currency market on Thursday, buying about $130 million to curb a rising shekel , dealers said.
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TEL AVIV, March 11 (Reuters) - The Bank of Israel intervened in the foreign currency market on Thursday, buying about $130 million to curb a rising shekel , dealers said.
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The Swiss National Bank left their benchmark rate unchanged at 0.25% and reaffirmed their commitment to prevent excessive franc appreciation. The statement lost some of its teeth as the central bank doesn’t see short-term price stability threatened and raised its forecast for inflation.
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Forms IBcoalition.org and Proposes Fair Industry-Based Alternatives to Regulations
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Written by Joel Kruger, Technical Currency Strategist for DailyFX.com If you wish to receive Joel's reports in a more timely fashion, e-mail jskruger@fxcm.com and you will be added to the "distribution" list.
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