Major Currency Pairs Analysis: EUR/USD, GBP/USD, USD/JPY
ICM Brokers | Mar 12, 2015 03:51AM ET
EUR/USD
The euro took another plunge toward parity with the dollar on Wednesday, shedding over 1 percent to trade below $1.06 for the first time in 12 years as a 1.1 trillion euro bond-buying program began to bite.
GBP/USD
Sterling dropped to eight-month lows, down 0.59% to 1.4980 after the U.K. Office for National Statistics said that manufacturing production declined 0.5% in January, disappointing expectations for an increase of 0.2% and following a 0.1% gain in December. The report also showed that industrial production fell 0.1% in January, compared to expectations for a 0.2% gain, after declining 0.2% in December.
USD/JPY
The dollar remained broadly higher against the Japanese yen on Monday, trading at 11-1/2 year peak as expectations for a near-term U.S. rate hike continued to lend broad support to the greenback and as trading volumes remained light with no major U.S. data ahead.
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