Yesterday was a good day on wall street, with the dow Jones closing up 6.84% after the U.S Treasury Secretary Timothy Geithner elaborated on hid plan to sop up mortgage debt and other soured assets.
This of course affected the demand for safe haven currencies in the forex market, with a pretty obvious move, the Yen and the dollar lost ground against most major currencies.
USDJPY has fully recovered from its “two day” dive to 93.5, this morning trades around 98.5, the 100 target looks closer then ever.
AUDJPY: this pair will potentially hit a very important resistance area 70 after breaking above its two and a half month high at 68.33.
GBPUSD: was topping at 1.4730 , might have some difficulty to advance further before the release of the Great Britain CPI and Inflation Report figures at 9:30 and 9:45 GMT accordingly.
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