The number of sales of existing homes dropped by 3.7% in February to an annualized level of 5.48 million, a bit under expectations. The US dollar is slightly weaker against the yen but the moves are limited. This is a second-tier figure and the miss is not a disaster. US existing home sales were expected [...]
The post US existing home sales miss with 5.48 million appeared first on Forex Crunch.
The initial move towards the triple-bottom of 111.60 did not result in a breach of this magical level. US traders left the job to Asian traders, which pushed the Japanese currency below the point just as European traders sip their morning coffee. USD/JPY is now trading at 111.40, a level last seen on November 28th, [...]
The post USD/JPY loses triple-bottom on extended US sell-off appeared first on Forex Crunch.
The sell-off of the greenback continues into the wake of the European session and the pound is there to take advantage. GBP/USD is advancing and is now flirting with the round 1.25 number. Update: we have a break and above 1.25. The next level of resistance awaits at 1.2540, which capped the pair before the recent [...]
The post GBP/USD tops 1.25 on extended USD sell-off, UK inflation echoes appeared first on Forex Crunch.
