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Thursday, August 17, 2006

EUR/USD may rise as Traders keep buying

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EUR/USD may rise as players keep buying EUR on speculation that ECB rates hikes will continue, sharp contrast with USD, where players unsure about Fed's further tightening.
As there are no major economic data due today, players will trade on technicals.
Tips 1.2800-1.2850 range in Asia, last 1.2831 on EBS.

EUR may also strengthen vs JPY, as people buying to take advantage of interest rate gap. Tips 148.50-148.90 band in Asia, last 148.70 on EBS

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