At the auction on Wednesday, exchange rates have continued to follow trends in the movement of stock indices, which, it should be noted, had a multidirectional vibrations.
For example, at the very beginning of the day improving the dynamics of quotations of shares provided support to more risky currencies. Exchange Euro /dollar rose to 1.3926 marks. Pound /dollar rose to 1.6480. At the same time, the U.S. dollar could rise against the Japanese yen up to 96.76, as market participants believe yen more safe assets.
In addition, support the British currency had on the labor market, which showed a significant slowdown in reducing the number of jobs in the UK in May.
According to the minutes of the meeting of the monetary policy of the Bank of England from June 3-4, all members of the committee unanimously voted to leave the key interest rate unchanged at 0.50%.
But soon these optimistic sentiments pougasli, as investors once again focused its attention on the possible risks to global economic recovery. Members markets were closed long positions for more risky instruments in view of falling of quotations on the stock markets. Against this background, the course of European currencies fell against the U.S. dollar to 1.3821 marks. The British pound lost positions against the dollar in more than 200 points, reaching a minimum of 1.6219. Then as the pair dollar /yen fell below the 96 figure.
However, the U.S. trading session, the market has changed again. Stock indices have gone up, and demand for risk tools has grown again. According to analysts, that the cause was a message that the bank Morgan Stanley returns Fed U.S. $ 10 billion that were allocated to the bank earlier in the program to support the banking sector, as well as the fact that the Company Bank of New York Mellon and the Amex announced a repurchase its shares from the U.S. Federal Reserve.
In addition, data on consumer price inflation in the United States led traders to a lesser degree of certainty to talk about the risk of higher interest rates the Fed in the United States this year. The drop in the consumer price index over the same period last year was most significant in the last 60 years, which impacted negatively on the rate of U.S. currency.
rate euro /dollar rose 120 points to a mark 1.3983. Pound /dollar reached 1.6447. Course dollar /yen continued to fall and reached a level of 95.50.
forecast Thursday, June 18
According to experts, market participants in trading on the currency market will likely continue to focus on the behavior of stock indices.
At the same time, on Thursday, investors might be interested in the data to change the volume of retail trade and money supply British data on unemployment in the United States, as well as production, Philadelphia Fed index.
Estimated range of trades on Thursday on a pair of Euro /dollar 1.3820 - 1.4070, the pair Pound /dollar 1.6250 - 1.6530.
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