On Tuesday the dollar was able to partially restore lost earlier position, the weakening of European currencies began with news of the UK. Published in early European session, the data indicator of consumer confidence index and house prices have been interpreted as signs of approximating the output of a recession, but followed shortly on a change in GDP for the first quarter showed a decrease of 2.4% - the highest value since 1958 this the news has led to massive profits for a fixed pair Pound /dollar, achieved by the time 8-month peak at around 1.6742, which, in turn, led to a significant rollback of the British currency to a minimum 1.6421. Nevertheless, the totality of available data, as the British economy has enabled Paul Robinson, one of the leading foreign exchange analysts Barclays Capital, the possibility of achieving a couple of pound /dollar level of 1.80 by the end of the year.
The single currency in the European trading session, has overcome the level of 1.41 and reached a 2-week maximum of 1.4151, but was not able to consolidate at this level for long, and early in the American auction went to the rapid decline - it was caused by the low value of the indicator of consumer confidence in the United States (49.3 against the projected value of 53.3), which has also led to a sharp drop in the quotations for American securities markets. The rapid growth in demand for the dollar as a currency of refuge resulted in a rollback of a pair of Euro /Dollar 1.3999 to a minimum.
The pair dollar /franc, down in the European trades to a minimum 1.0777, then rose to a strengthening of the dollar up to 1.0889. The pair dollar /yen has also started day trading from 95.30 to reduce to a minimum, and then flew up to a maximum 96.50.
In addition, the statement issued on Tuesday representatives of the IMF, the share of dollar in world currency reserves increased during the first quarter of this year from 64.1% to 65% - this is the highest level since 2007 The proportion of euro has fallen from 26.5% to 25.9 % share of the British pound fell from 4.1% to 4% and the Japanese yen fell from 3.2% to 2.9%.
Forecast for Wednesday, July 1
From the economic data published on Wednesday, should provide data on changes in retail sales in Germany, the PMI manufacturing index for the euro and British ISM manufacturing index for the U.S. data to change the volume of outstanding transactions for the sale of housing, as well as data of oil (United States).
For a pair Pound /dollar is likely to occur after a significant increase in the fall, the support level of 1.6400 will speak, and the nearest resistance - 1.6600. Euro also try to compensate for the fall and will again attempt to gain a higher level of 1.4100.
For a pair of dollar /franc target range is 1.0760 - 1.0860, and the pair dollar /yen will move in the levels of 95.70 and 96.60.
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