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EUR/USD remains heavy - Investec

FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, notes the ongoing strength in the USD.

Key Quotes

"USDJPY broke higher after trading through decent resistance around 104.00-20 as investors ready for the post Summer moves, while the Australian Dollar weakened on a widening Current account deficit leading many other US Dollar crosses to follow suit".

"The USDJPY rally may bring fresh cross-Yen buying to the market that will help support the Euro and Pound in the short term but certainly we expect the Euro to remain heavy into Thursday's ECB meeting with the outside chance of a rate cut remaining a possibility".

"The Pound meanwhile will need to get through the next two PMI releases before the market may be tempted to buy some Pounds before Thursday's MPC meeting."

Slovakia Current Account Balance EUR climbed from previous €149M to €187M in June

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