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Forex Trading: US dollar bid

Posted by Greg Michalowski on Tue, 03/11/2008 - 10:13am in

US dollar

The dollar continues to be bid against the major currency pairs. The EURUSD broke through 1.5300. GBPUSD testing the key 2.0000 level. USDCHF up to 1.0350 area and USDJPY up to 1.0352.

The major crosses have stabalized at these levels. GBPJPY is hanging below 207.15 but supported at 206.50 area. EURJPY is capped at 158.30 and support at 157.75. EURGBP 0.7635 to 0.7650.

The markets like the news today but not fully sold on it just yet.