Major Currency Pairs Analysis: December 22, 2014
ICM Brokers | Dec 22, 2014 02:34AM ET
EUR/USD
The euro was little changed against the U.S. dollar in quiet trade on Friday, soaring close to more than two-year lows as demand for the greenback continued to receive broad support. The euro fell to more than two-year lows against the U.S. dollar on Friday, despite the release of upbeat German consumer climate data as demand for the greenback remained broadly supported by expectations for a U.S. rate hike next year. Data showed that the Gfk German consumer climate index rose to a six-month high of 9.0 in December from a reading of 8.7 the previous month. Analysts had expected the index to tick up to 8.9 this month.
GBP/USD
The pound held steady against the U.S. dollar on Friday, after the release of lower-than-expected public sector net borrowing data from the U.K., as demand for the greenback remained broadly supported. In a report, the Office for National Statistics said that the U.K. public sector net borrowing rose by £13.41 billion last month, compared to expectations for an increase of £15.37 billion. October' figure was revised to a £6.43 billion gain from a previously estimated £7.06 billion rise.
USD/JPY
The U.S. dollar continued to climb against the yen on Friday, after the Bank of Japan maintained the level of its stimulus program and as Thursday's U.S. jobless claims data continued to support the greenback. The yen came under pressure after the BoJ said it will boost its monetary base at an annual pace of ¥80 trillion.
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