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Currency market

Lateral movement of the EURUSD

It more relevant of yesterday's meeting went the publication of the law reports of the European Central Bank, that they stop manifesto the intention by the monetary authority of revising its language on the stimuli but without applying reductions. The next meeting, that it will take place on 8 March, would be able to derive in a change of direction, which does not be intended for the imminent one dropped out of the measures ultra laxas nor of a rate increase of interest, then another of the things that also put on of importance was the division and lack of consensus between the board members. Which they did not show is a significant worry for the exchange rate of the common currency.

The euro remained impassive after the publication for then begin its climb when dealing with the dollar from the area of 1.2270 EURUSD until reaching the 1.2360 EURUSD. Behind the movement, James Bullard's words, chairman of the FED of St. Louis, warning of the consequences of going up the interest rates too fast one, would be able to have a restrictive effect in the economy. This launches a shock to a market that it already speculated with that the FED would be able to go up the fastest types and more times of those planned three throughout the 2018 before the economic strengthening and the rise of the inflation.

Shortly after appeared the Secretary of the Treasure Steve Mnunchin ensuring that you could take measures to promote the economic growth. Specifically adverted to wage increases not accompanied by recoveries of the inflation. These words gave him wings to the dollar driving it again until the figure of 1.2300 EURUSD.

The pair USDJPY did not suffer major modifications. The strengthening of the dollar was counteracted with a detail of CPI in Japan moving forward a year-on-year 0.9% that left the unchanging crossroad around the area of 107.00 USDJPY. This new figure supposes the thirteenth consecutive rise, according to informed the Nipponese Government.

Additionally can emphasise on the market of currencies the movement of the Swedish throne when dealing with the euro, that it already pays contributions above the psychological level of 10.00 EURSEK. The increasing real estate bubble makes feel uncomfortable to its central bank that, however, is not been posing for the time being a rate increase of interest, producing the depreciation of the Swedish throne.

Ranges for today:

EURUSD
1.2260-1.2350

EURGBP
0.8780-0.8855

EURJPY
131.10-131.90

 
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