Switzerland: Foreign Currency Reserves grow to 427.7B in February
The Swiss Foreign Currency Reserves increased to 427.7B in February, from 427.0B in January, according to data released by the Swiss National Bank.
Mar 7, 2013
Forex: USD/JPY just below 94.00
Having gone as high as 94.11 in expectation of a BoJ surprise, which didn't happen, the USD/JPY came down to test 93.80 briefly before heading towards the 94.00. The market trades just below the level.
Forex Flash: EUR/USD struggles at bouncing, initial support at 1.2885/76 - Commerzbank
Commerzbank analysts see the EUR/USD at a struggle to do the expectable bounce, according to the 13 count on the 240 minute chart. "While rallies are contained by the accelerated downtrend at 1.3200, the market will remain directly offered. Initial support is 1.2885/76 – the 7th December low and 78.6% retracement", wrote analyst Karen Jones, pointing to a short term downside target to 1.2679/61 (61.8% retracement of the move up from July 2012 and the November 2012 low). "Longer term we target 1.2400 then 1.2050/42 the 2012 low", she added.