The Wild Card EUR/GBP 28 Sep 2009

[forexqs.blogspot.com]

The Wild Card EUR/GBP 28 Sep 2009
Monday, 28 Sep 2009
Japan's Currency Hits a 7 Month High

The Yen rose to a 7 month high versus the Dollar as Japan's new government reiterated its opposition to pursuing deliberate currency devaluation strategy. The Sterling dropped to a 3 month low versus the Dollar last week after Bank of England Governor Mervyn King was quoted as saying the Pound's weakness is aiding in stabilizing the U.K.'s economy. Today's trading day will likely experience the markets reaction to the G20 leaders' decisions, mainly their pledge to continue supporting the stimulus efforts.

The Wild Card
EUR/GBP

This pair's sustained upward movement has finally pushed its price into the over-bought territory on the daily chart's RSI ... read more